- High completion level: The apartments on the second floor are already fully finished, with furniture currently being installed. One of the pledged apartments on the third floor is still being fitted out, with final finishing works underway. The apartments are planned to be launched for rent from May, and sales are expected to start in August–September if long-term financing options available in the market are not attractive.
- Attractive location: The project is being developed in the central part of Riga, near Brīvības Street – one of the city’s main arteries, featuring well-developed infrastructure, convenient transport connections, and consistent residential demand.
- Strengthening Riga RE market: Improving liquidity of newly built housing and steadily increasing prices create favorable conditions for project development – the speed of apartment sales is increasing, and developers are gaining more leverage to consistently raise selling prices, thereby ensuring improving performance indicators.
Interest rates based on investment amount:
– From 100 EUR to 299 EUR – 8.50%
– From 300 EUR to 599 EUR – 8.75%
– From 600 EUR to 1 999 EUR – 9.00%
– From 2 000 EUR to 4 999 EUR – 9.25%
– From 5 000 EUR to 9 999 EUR – 9.50%
– From 10 000 EUR to 24 999 EUR – 9.75%
– From 25 000 EUR – 10.00%
Important: individual investments are not aggregated and cannot be combined.
About the Project:
The project owner pledges 7 apartments with a total area of 427,3 m² in a nearly completed development at Etnas St. 5, Riga, in the central part of the city, next to one of the main arteries – Brīvības Street. The project is being developed in a strategically attractive and liquid location, characterized by stable demand for both residential and administrative real estate, making it suitable for both rental and potential sale.
Apartments on the second floor are fully finished and currently being furnished. One of the pledged apartments is located on the third floor and is currently with partial finishing, with final works underway. The developer plans to launch the apartments for rent in May-June and start sales in August/September if long-term financing options in the market are not satisfactory.
At this stage, the funds raised will be used to refinance an existing PROFITUS loan, providing the project owner with additional time to complete the project and execute sales. Any remaining funds will be allocated to the company’s working capital.
Loan information:
The loan will be repaid through refinancing with another credit institution or from proceeds from asset sales, while interest to investors will be paid from rental income or the company’s operating revenue.
The maximum financing amount is 910 000 EUR, of which 790 000 EUR will be raised with a first-rank mortgage and 120 000 EUR with a second-rank mortgage. The project is financed based on the current valuation of the pledged assets until the maximum loan-to-value (LTV) ratio is reached. Once the maximum LTV is reached, a new valuation must be performed, and further financing stages will be announced and carried out only if the maximum LTV is not exceeded.
The target amount is planned to be raised within 7 days, with the possibility to extend up to 30 days if the funds are 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.
