- Financially stable and experienced company: The Project Owner has many years of experience in the construction sector and operates profitably. The company has no long-term debt, while its stable income enables it to meet its financial obligations and, if necessary, invest additional own funds into the project.
- Attractive location in Riga: The project is being developed on Brīvības Street – one of Riga’s main transport arteries, providing convenient connections to the city centre and other districts. The surrounding area has well-developed everyday infrastructure, making the location attractive for residential real estate.
- Liquid project format: The project involves the renovation and sale of 11 compact apartments of approximately 25–30 m². The compact apartment format and attractive location create favourable conditions for the sale of the property.
About the Project:
The Project Owner plans to acquire an older apartment building at Brīvības St. 140, Riga, comprising 11 compact apartments of approximately 25–30 m². Following the acquisition, the building will be renovated and refurbished, with the apartments fully fitted out and prepared for sale.
After acquiring the property, the Project Owner plans to invest approximately EUR 80,000 of own funds in renovation and fit-out works. Once the planned works have been completed and the value of the property has increased, additional financing is planned for the next stage of project development. Pre-sale reservations for the apartments are planned to begin during the construction period.
The projected total sales revenue of the project is EUR 676,060.
The project is being developed on Brīvības Street – one of Riga’s main transport arteries, providing convenient connections to the city centre and other districts. The area benefits from well-developed everyday infrastructure, including public transport, shops, services, educational institutions and other amenities. The compact apartment format and urban infrastructure create favourable conditions for selling the properties both to owner-occupiers and investors.
Loan Information:
The loan will be repaid from property sales proceeds or by refinancing the loan with another credit institution. Interest will be paid from advance payments, sales proceeds or the company’s operating income.
The term of the project loan agreement is 24 months. Funds for the project may be raised in stages, with the duration of this financing stage being 12 months. At the end of this stage, if necessary, continued project financing may be carried out, i.e. funds for the project may be raised through a new financing stage without exceeding the final term of the project loan agreement.
The maximum planned project financing amount is EUR 325,000. The amount may be raised in stages. Please note that the project will also be financed with the loan 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 will be required, and subsequent financing stages of the Project will be announced and funded only if the established maximum LTV is not exceeded.
We plan to raise the target amount within 7 days, with the possibility of extending the funding period up to 30 days if the funds are not fully 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.
