• Active Jūrmala RE market: Jūrmala remains one of the most attractive resort destinations in the Baltic region, and in recent years increasing interest in housing on the Latvian coast has been observed. More and more Lithuanians are considering acquiring real estate in Latvia, especially in the Jūrmala region, therefore demand for properties located in such areas remains stable.
• Income-generating property: Currently, three out of the four apartments pledged as collateral are rented out, therefore the property generates continuous income even before the final sale, amounting to approximately EUR 25,000 in net income per year.
• Experienced developer: The project is being developed by a real estate developer with more than 30 years of experience in the construction and development of private and commercial buildings. During this period, he has implemented various projects – from residential housing to commercial and industrial facilities. Among the implemented projects are the acquisition and development of an approximately 4000 m² administrative and industrial building for commercial use, as well as the development of a building exceeding 500 m² in Jūrmala.

Interest according to investment amount:
– From 100 EUR to 349 EUR – 9.10%
– From 350 EUR to 699 EUR – 9.30%
– From 700 EUR to 2 499 EUR – 9.50%
– From 2 500 EUR to 7 499 EUR – 9.75%
– From 7 500 EUR to 19 999 EUR – 10.00%
– From 20 000 EUR to 49 999 EUR – 10.25%
– From 50 000 EUR – 10.50%
Important: individual investments are not aggregated and cannot be combined.

About the Project:
The project owner pledges real estate located at Brīvības 28, Jūrmala – one of the most attractive locations in this resort city. The property is situated in a quiet residential environment surrounded by pine forests and high-value residential real estate projects. The Baltic Sea beach, Dzintari Concert Hall, and the main Jūrmala promenade – Jomas Street – where the city’s restaurants, cafés, shops and leisure infrastructure are concentrated, are all just a few minutes away by car. Convenient access to Riga ensures that this location is attractive both for permanent living and for real estate investment.

A 29337/34415 share of the real estate complex is pledged, which consists of a 1748 m² land plot and a 550,1 m² semi-detached residential house. According to the established usage arrangement, the semi-detached residential house is divided into five apartments. One of the five apartments has already been successfully sold – a 66,6 m² apartment with its assigned share of the land plot. The project owner plans to register the sale of the second apartment in the autumn of this year. Buyers are currently being actively sought for two additional apartments. The fifth apartment is not for sale, as it is occupied by one of the company’s owners.

Currently, three out of the four apartments being pledged as collateral are rented out, so the property generates continuous income even before the final sale, amounting to approximately EUR 25,000 in net income per year.

According to current plans, the project owner expects to sell the apartments for no less than 1 123 000 EUR excluding VAT.

This fundraising aims to refinance the existing loan and attract additional working capital in order to obtain additional time for the sale of the apartments.

Loan information:
The loan will be repaid from property sales or through refinancing with another credit institution. Interest will be paid from advance payments and/or the company’s operating income.

The maximum planned project financing amount, secured by a first-rank mortgage, is 705 000 EUR. Please note that at later stages the project may be financed with loans secured by a second-rank mortgage.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 must be carried out and further project financing stages will be announced and colle cted only if the established maximum LTV is not exceeded.

The targeted amount is planned to be raised within 7 days, with the possibility to extend up to 30 days if the funds are not collected.