- Active construction works: Construction works are actively underway in the project, and the walls of the third storey have already been erected in the apartment building.
- 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.
- Attractive location and potentially high liquidity: The project is being developed in the central part of Riga – a strategically convenient location that ensures high demand and liquidity of the property. Upon completion, the asset will be easier to realize both in the rental and sales markets.
Interest by investment amount:
– From 100 EUR to 299 EUR – 10.00%
– From 300 EUR to 699 EUR – 10.30%
– From 700 EUR to 1 999 EUR – 10.60%
– From 2 000 EUR to 6 999 EUR – 10.90%
– From 7 000 EUR to 19 999 EUR – 11.20%
– From 20 000 EUR – 11.50%
Important: investments made separately are not aggregated and cannot be pooled.
About the project:
The project owner continues 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 walls of the third storey have already been erected in the currently developed building.
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 income generated by apartment sales, while interest to investors will be paid from the project owner's operating income.
Maximum funding amount: 5,000,000 EUR (2,540,000 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.
