Summary
Funds will be used to buy and reconstruct the object in Kaleju street which is a 4 storey building located in old town of Riga. Total area of the building is 972,30 square metres and after reconstruction there will be 14 apartments.
As there is a limited offer of reconstructed apartments with modern and thoughtful plans, it is expected to exit from Project by end of 2020 by selling apartments to local residents and Airbnb/Booking operators. Today there is a letter of intent signed with Airbnb operator to sell 6 apartments when Project is commissioned according to its design and technical recommendations.
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Loan
Minimum target: EUR 400’000
Maximum target: EUR 850’000
Loan term: 12 months.
Interest rate: 19 % per annum.
Location: Riga, Latvia
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