- Experience with PROFITUS: The project owner, in cooperation with the PROFITUS platform, has successfully completed a project in Kunigiškės.
- Experienced developer: The project owner has experience in the real estate market and has completed 3 000 m² of similar real estate projects.
- Construction progress: Since the previous financing stage, the average completion level of the buildings has increased from approximately 40–50% to around 70%. The structures of all buildings have already been erected, roofs have been installed, windows and exterior doors have been fitted, and utilities and ventilation systems have been installed. Façade insulation and the remaining project completion works are currently underway.
Interest rates based on investment amount:
– From 100 EUR to 299 EUR – 9.20%
– From 300 EUR to 699 EUR – 9.40%
– From 700 EUR to 1 999 EUR – 9.60%
– From 2 000 EUR to 4 999 EUR – 9.80%
– From 5 000 EUR – 10.00%
Important: separate investments are not aggregated and cannot be combined.
About the Project:
The project owner has acquired a 15-are land plot in Palanga, at Upelio akligatvis 7, as well as a 1129/1660 share of the land plot located at Upelio akligatvis 9. A residential project is being developed on these plots, involving the construction of buildings adapted for residential use and their sale on the market upon completion to a partial finish. The project is focused on functional, medium-sized housing units in an attractive part of Palanga. The projected sales revenue of the project is 2 095 830 EUR.
Upelio aklg. 7: A semi-detached residential house (projected area – 186.54 m²) is being built on the plot. Two auxiliary buildings (projected areas: 101.79 m² and 129.13 m²) are also being constructed on this plot for the residents' needs.
Upelio aklg. 9: A similar semi-detached residential house (186.54 m²) is being developed on part of the plot; a 1129/1660 share of the land plot together with the building under construction and an auxiliary building (94.61 m²), adapted for residential use, is also pledged as collateral.Currently, the completion level of the buildings is approximately 40–50%.
The project is being developed in Kunigiškės – a quiet and scenic seaside area with well-developed infrastructure and convenient connections to the centre of Palanga. This location is attractive to both permanent residents and investors due to increasing real estate values and stable demand for residential properties.
The funds raised during this financing stage will be used to refinance the existing loan with another credit institution and to complete the remaining construction works.
Loan information:
The loan will be repaid from real estate sales proceeds, while interest to investors will be paid from advance payments and/or the company’s working capital.
Maximum financing amount: 2 346 645 EUR (400 000 EUR already raised). The project is financed based on the current valuation of the pledged property until the established maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new property valuation will have to be carried out, and subsequent financing stages of the Project will be announced and funded only if the established maximum LTV is not exceeded. The project loan agreement is scheduled to end on 2028-03-02. Funds for the project may be raised in stages, and the duration of this financing stage is 12 months. Upon expiry of this stage, if necessary, continued project financing may be carried out, i.e. funds for the project may be raised through a new financing stage without exceeding the final term of the project loan agreement.
We plan to raise the target amount within 7 days, with the possibility of extending the fundraising period up to 30 days if the funds are not fully raised.
About the Profitus
Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros. Profitus investments are secured by real estate mortgages, Your investment is secured by a first or second mortgage on the property, as well as by other collateral (e.g. a surety or guarantee). Transactions are managed through Lemonway, a regulated payment service provider.
Profitus is a crowdfunding and investment platform whose main goal is to make investment available to everyone. Investments start at 100 euros, and the platform is open 24/7. Investments are secured by pledging real estate and other collateral (e.g., indemnity or warranty). Different projects have different security tools that users can access in self-service for each project.
Profitus consults with the Bank of Lithuania in order to ensure perfect compliance with the law. Profitus operates with Lemonway, a regulated payment service provider.
