- Attractive location: The project is being developed in the central part of Riga – a strategically convenient location ensuring high demand and liquidity of the property. After completion of the development, the property will be easier to realize in both the rental and sales market.
- Growing property value: Since the previous stage, the value of the pledged property has increased by 740 000 EUR and currently amounts to 8 600 000 EUR.
- Smooth construction progress: The project is being implemented according to plan – roofing works have been completed, balconies are being installed, façade finishing works have started, window installation is beginning, and internal infrastructure installation works are underway.
Interest rates based on investment size:
– From 100 EUR to 299 EUR – 9.00%
– From 300 EUR to 599 EUR – 9.20%
– From 600 EUR to 1999 EUR – 9.40%
– From 2 000 EUR to 4999 EUR – 9.60%
– From 5 000 EUR to 9 999 EUR – 9.80%
– From 10 000 EUR – 10.00%
Important: separate investments are not aggregated and cannot be combined.
About the Project:
The project owner continues the construction of apartment buildings in the Kengarags district of Riga, Latvia. This modern building will have 64 apartments and 3 998 m² of saleable area. The average apartment area is 62 m², and 62 parking spaces are also planned.
Construction works are proceeding according to plan. Roofing works have been completed, balconies are being installed, façade finishing works have started, window installation is beginning, and internal infrastructure installation works are underway. The project owner has signed a cooperation agreement with another construction company that has started construction works on the nearby A2 building. Through this cooperation, the developer aims to accelerate the development of the entire property so that the project becomes more attractive to buyers.
The project is located next to Latgale Park and the Mols shopping center, in one of the most dynamic parts of the city, only 3,5 km from the center of Riga. The Kengarags district, home to about 52 000 residents, offers developed infrastructure and rapidly growing real estate demand, making the project an attractive option both for living and investment.
It is planned that the apartment sales revenue of the A1 building will reach 7 882 706 EUR.
Loan information:
The loan will be repaid from apartment sales revenues, while interest to investors will be paid from advance payments and/or income generated by the project owner's activities.
Maximum financed amount: 5 000 000 EUR (already funded 4 880 000 EUR). The project is financed according to 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 stages of Project financing will be announced and collected only if the established maximum LTV is not exceeded.
We plan to raise the target amount 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.
