- Construction progress: The apartment has been physically divided into two separate units, utility systems have been installed, floors have been poured, interior walls have been constructed, and interior finishing works are underway. Municipal approval for the division of the apartment has been obtained, and separate addresses and cadastral numbers have been assigned to the two apartments. The final step is to complete their registration in the state register.
- Prestigious location: The mortgaged apartment is located in one of the most prestigious areas of central Riga, where demand for real estate remains consistently high due to its peaceful, distinguished surroundings and proximity to the Old Town.
- Developer's experience: The project owner is an experienced real estate market participant with more than 20 years of experience in the industry. He has successfully developed the „Aleksandra apartments“ project in the building at Ausekļa iela 4, with a total area of approximately 5,000 m².
Interest rates by investment amount:
– From 100 EUR to 349 EUR – 8.80%
– From 350 EUR to 749 EUR – 9.00%
– From 750 EUR to 1,999 EUR – 9.20%
– From 2,000 EUR – 9.50%
Important: Separate investments are not aggregated and cannot be combined.
About the Project:
The project owner, „AK Invest SIA“, acquired a 150.9 m² apartment located in one of Riga's most prestigious areas – Ausekļa iela 4, in the „Quiet Centre“ district. The project involves dividing the existing property into two separate apartments of approximately 75 m² each, completing them to a fully finished standard, and selling them.
Significant construction progress has been achieved since the beginning of the project: the apartment has been physically divided into two units, utility systems have been installed, floors have been poured, interior walls have been constructed, and interior finishing works are currently underway. Municipal approval for the division of the apartment has also been obtained, and separate addresses and cadastral numbers have been assigned to the two apartments. The remaining step is to complete their registration in the state register.
The project owner has invested more equity into the project than originally planned. Instead of the initially planned 20,000 EUR, approximately 100,000 EUR of equity has been invested to date. In recent months, construction works have continued using the owner's own funds.
Taking into account changes in the real estate market, the project owner has increased the expected sales revenue from 530,000 EUR to at least 600,000 EUR.
One of the future apartments has already been reserved, and a deposit has been paid. Active sales efforts are also underway for both apartments – a broker from the international real estate network „Sotheby's“ has been engaged, and the existing client network is being used to identify potential buyers.
The project owner aims to complete the apartment sales in the near future. The project is located in one of the most valuable and sought-after areas of central Riga. The „Quiet Centre“ district is highly regarded for its peaceful, prestigious surroundings, proximity to parks and green spaces, and convenient accessibility. The Old Town, major business centres, and essential services are all within a few minutes' walking distance. The area is characterised by premium-class real estate, with demand supported by local residents, international professionals, and members of the diplomatic community.
Loan Information:
The loan will be repaid from property sales proceeds, while interest payments to investors will be made from deposits, sales proceeds, or the company's operating income.
The loan term for this financing stage is 2 months; however, the final loan repayment date is no later than 2026-12-08. Of the funds raised during this financing stage, 49,459.05 EUR will be used to repay the project owner's financial obligations to another credit institution, while the remaining amount will be disbursed to the project owner.
The maximum planned project financing amount is 355,000 EUR (278,000 EUR has already been raised in previous stages, secured by a first-ranking mortgage, and 45,000 EUR secured by a second-ranking mortgage). The financing amount may be raised in multiple stages. Please note that the project is also financed through loans secured by a second-ranking mortgage. The project is financed based on the current valuation of the mortgaged 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. Further financing stages will only be announced and funded if the established maximum LTV ratio is not exceeded.
We plan to raise the target financing amount within 7 days, with the possibility of extending the fundraising period to up to 30 days if the required amount is not collected.
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.
