• Experienced Developer: The project owner has extensive experience in the real estate sector and has developed 23,000 m² of various-purpose projects in Latvia.
• High Market Interest: 30% of the available space has already been reserved, and advance payments exceed 1.1 million EUR, confirming strong demand and confidence in the project.
• Increasing Property Value and Liquidity: The project has reached approximately 20% completion, and further development continues to enhance its value. The pledged property is strategically located, ensuring potentially high liquidity.

Interest by investment amount:
– From 100 EUR to 299 EUR – 11.00%
– From 300 EUR to 499 EUR – 11.50%
– From 500 EUR to 1 499 EUR – 12.00%
– From 1 500 EUR to 4 999 EUR – 12.50%
– From 5 000 EUR to 19 999 EUR – 13.00%
– From 20 000 EUR to 49 999 EUR – 13.50%
– From 50 000 EUR to 99 999 EUR – 14.00%
– From 100 000 EUR – 14.60%
Important: investments made separately are not aggregated and cannot be pooled.

About the project:
The project owner seeks to refinance an existing loan. The refinancing is provided considering the owner's need for long-term financing. The project involves the development of three multi-apartment residential buildings in the Kengarags district of Riga, Latvia. The initially raised funds will be allocated to refinancing the existing obligation, while in subsequent stages, financing will be directed towards completing the first apartment building – a modern structure with 64 apartments and 3,998 m² of saleable area. Each apartment will have an average size of 62 m², and 62 parking spaces are also planned.

The project is located next to Latgale Park and Mols Shopping Center, in one of the most dynamic parts of the city, just 3.5 km from the center of Riga. The Kengarags district, home to approximately 52,000 residents, offers well-developed infrastructure and a rapidly growing demand for real estate, making the project an attractive choice for both living and investment.

Loan information:
The loan will be repaid from the sale of apartments in the apartment building. The average selling price of apartments is 2,385.71 EUR including VAT per 1 m². Total sales revenue of the first development phase apartment building – 9,538,074 EUR including VAT. Interest to investors will be paid from the operating income of the project owner.

Maximum funding amount: 5,000,000 EUR. The project is financed based on the existing valuation of the mortgaged property until it reaches the specified maximum loan-to-value (LTV) ratio. Upon reaching the maximum LTV, a new property valuation will have to be performed, and further stages of project financing will be announced and collected only if the specified maximum LTV is not exceeded.

The required amount for refinancing is EUR 1,800,000. The amount can be raised in stages, and interest for investors will be calculated from the period when the full required amount is gathered.

We plan to raise the required amount within 7 days with the possibility of extending up to 30 days if the funds are not raised.