- Experienced Developer: The project owner has extensive experience in the real estate sector and has developed 23,000 m² of various-purpose projects in Latvia.
- High Market Interest: 30% of the available space has already been reserved, and advance payments exceed 1.1 million EUR, confirming strong demand and confidence in the project.
- Increasing Property Value and Liquidity: The project has reached approximately 20% completion, and further development continues to enhance its value. The pledged property is strategically located, ensuring potentially high liquidity.
Interest by investment amount:
– From 100 EUR to 349 EUR – 11.00%
– From 350 EUR to 749 EUR – 11.40%
– From 750 EUR to 1 999 EUR – 11.80%
– From 2 000 EUR to 4 999 EUR – 12.20%
– From 5 000 EUR to 19 999 EUR – 12.60%
– From 20 000 EUR to 49 999 EUR – 13.00%
– From 50 000 EUR – 13.50%
Important: investments made separately are not aggregated and cannot be pooled.
About the project:
The project owner aims to continue the construction of residential apartment buildings in the Kengarags district of Riga, Latvia. This modern building will have 64 apartments and a total saleable area of 3,998 m². Each apartment will have an average size of 62 m², and 62 parking spaces are planned.
The project is located next to Latgale Park and Mols Shopping Center, in one of the most dynamic parts of the city, just 3.5 km from the center of Riga. The Kengarags district, home to approximately 52,000 residents, offers well-developed infrastructure and a rapidly growing demand for real estate, making the project an attractive choice for both living and investment.
Loan information:
The loan will be repaid from the sale of apartments in the apartment building. The average selling price of apartments is 2,385.71 EUR including VAT per 1 m². Total sales revenue of the first development phase apartment building – 9,538,074 EUR including VAT. Interest to investors will be paid from the operating income of the project owner.
Maximum funding amount: 5,000,000 EUR (1,800,000 EUR has already been raised.). The project is financed based on the existing valuation of the mortgaged property until it reaches the specified maximum loan-to-value (LTV) ratio. Upon reaching the maximum LTV, a new property valuation will have to be performed, and further stages of project financing will be announced and collected only if the specified maximum LTV is not exceeded.
We plan to raise the required amount within 7 days with the possibility of extending up to 30 days if the funds are not 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.
