Back to Profitus offerings
CrowdSpace is not liable for the content presented in this offering. Check with the information on the official Profitus website and make informed decisions based on your own research.

We present new phase of phased financing project – „Piekrasta Rezidence III". The project owner will use the pooled funds for property development. The amount to be raised in this phase is EUR 150 000.

About the project owner:
SIA SKY KRASTI group of companies has experience in mixed-use real estate development in Latvia, which has been operating since 1997 and has developed about 25 000 square metres of projects. In Riga, the developer has developed 3 residential blocks (Riga warmhouse, Slock 84, Sniega street).

About the project:
The project owner is developing a 3-apartment block in Riga with 191 apartments and studio units. The flats in the apartment blocks will have one, two and three rooms with an area of 31-88 square metres. The studio apartments will have an area of 28 square metres. The developer is currently taking pre-reservations, having made preliminary agreements with 21 buyers, 15 of whom have already paid reservation fees of EUR 3 000 - 5 000. The developer plans to refinance the existing bank commitment within 6-9 months. The expected sales proceeds are EUR 22 000 000 including VAT.

Project progress:
With the funds mobilised in the last phase, the developer has continued to pour concrete walls, future lift shafts and has started to prepare the base for the main entrance to the underground car park. The funds raised in this phase will be used by the project owner to pay for the fabrication and installation of the underground car park slabs and to continue with further construction works.

The maximum financed amount: EUR 2 000 000 (EUR 850 000 already raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 50%. Once the maximum LTV is reached, a new valuation of the property will have to be carried out, and the further stages of financing the project will be announced and collected only if the set maximum LTV is not exceeded. The loan-to-value ratio (LTV) without VAT at this stage is 25%.

Risk category (probability of default) of this project: 10/12.

Interest by investment amount:
– From EUR 100 to EUR 4 999 – 12.6%
– From EUR 5 000 to EUR 24 999 – 13.1%
– From EUR 25 000 to EUR 49 999 – 13.6%
– From EUR 50 000 to EUR 99 999 – 14.1%
– From EUR 100 000 to EUR 199 999 – 14.6%
– From EUR 200 000 – 15.1%
Important: investments made separately are not aggregated and cannot be pooled.

We plan to raise the amount within 7 days, with the option of extending it to 21 days if we do not raise funds.

About the Profitus

ECSP license
Profitus Verified platform

Profitus is a crowdfunding and investment platform with a minimum investment of 100 euros, secured by real estate or warranty. It operates 24/7 and collaborates with Paysera, Trustly, and Creditinfo.

Minimum investment
100 EUR
Advertised return
Payment options
Direct debit, Bank transfer
Total funding volume
126,833,230 EUR
Average loan duration
What does Profitus offer?

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. Monetary operations on the platform are carried out in cooperation with Paysera and Trustly. The risk relating to the project and project owner are assessed on the basis of information provided by Creditinfo.

Profitus alternatives

crowdfunding report 2023
Get our latest European Crowdfunding Market Report 2023

Our brand new report gives insights into the state of the crowdfunding market in general and goes in-depth regarding funding volumes, backer and fundraiser profiles, regulatory implications, technical challenges and more. Grab your copy, it's FREE!