- Construction progress: Over 6 months, the apartment has been physically divided into two units, utilities have been installed, floors have been poured, and interior walls are being installed. The documentation required to legalise and register the future apartments as separate property units has been prepared.
- Prestigious location: The pledged apartment is located in one of the most prestigious areas of central Riga, where demand remains consistently high due to the quiet, representative 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 real estate sector. He has successfully developed the “Aleksandra apartments” project in the building at Ausekļa iela 4, with a total area of approximately 5 000 m².
About the Project:
The project owner, AK Invest SIA, has 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 apartment into two separate residential units, completing them to a full finish and selling them.
Significant construction progress has been achieved during the 6 months since the start of the project: the apartment has been physically divided into two units, engineering utilities have been installed, floors have been poured, and interior walls are being installed. Documentation required to legalise and register the apartments as separate property units with individual unique numbers has also been prepared.
Expected sales revenue amounts to 530 000 EUR. One of the future apartments has already been reserved and has a potential buyer.
The project location is one of the most valuable and sought-after areas in central Riga. The Quiet Centre district is valued for its quiet, representative surroundings, proximity to parks and green areas, and convenient accessibility – the Old Town, main business centres and key services can be reached on foot within a few minutes. The area is dominated by premium-class real estate, while demand is supported by local residents, international professionals and the diplomatic segment.
Loan information:
The loan will be repaid from the proceeds of the property sale, while interest to investors will be paid from advance payments, sale proceeds or the company’s operating income.
Maximum planned project financing amount: 400 000 EUR (240,000 EUR has already been raised, secured by a first-ranking mortgage, and 45,000 EUR secured by a second-ranking mortgage.). The amount may be raised in stages. Please note that the project is also financed with the loan secured by a second-ranking mortgage. The project is financed based on the current valuation of the pledged property until the established maximum loan-to-value ratio (LTV) 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 raised only if the established maximum LTV is not exceeded.
We plan to raise the funding amount within 7 days, with the possibility of extending the period 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.
