Blog

Operations overview / July

July was focused on strengthening Devon's legal, operational, and long-term strategic foundation. During the month, we shared the roadmap for the platform's next phase, including the upcoming legal opinion from KPMG Germany, preparations for AIFM and ECSP licensing, and the planned migration to the next-generation platform.

Alongside these strategic initiatives, our development pipeline continued to progress, with several projects advancing through planning, construction, sales, and financing stages.

Funding & Platform Highlights

July by the Numbers

• €148,869 funded during July
• €12,410,307 total funding attracted through the platform
• 10 new active lenders joined the Devon community
• 1,435 active lenders in total
• 15.24% average interest rate
• €145,959 interest earned by lenders during July
• €1,762,590 total interest earned since launch

Devon project statuses

• Amber Park - regarding sales figures at Amber Park, currently are as follows: 8 apartments are sold, three have been rented out and 8 more are available for sale. We have potential interest for some apartments and we are looking for this interest to materialize into sold apartments.
• Amber Park Rental No. 12 — has been rented out and performing as expected.
• Barona 92 - Sales process is ongoing, yet to be concluded.
• Bikernieku 13A — MJL Group has stepped in and finalized the purchase of this project even before the project is funded. The project is currently in the planning phase, where we are considering making additional adjustments that could potentially improve the overall business case of this project.
• Brivibas 249A — we are in the process of negotiating with the seller, where there are some outstanding items to be resolved before closing this transaction.
• Duntes Park Stage 1 - the construction permit has been received and the project design is progressing. Currently MJL Group has active discussions with potential senior debt providers.
• Juglasciems Village Stage 1 — we are progressing with project designs for the overall infrastructure. In parallel, we are in negotiations with potential senior lenders to provide the remaining construction funds.
• Meira Garden (formerly Mezaparka Nams) — the construction is in progress with the second part of the building underway. The reservations have increased to 16 apartments (out from 36 in total).
• Terbata Lofts - project design works are progressing and will be split in several phases, at the same time we are progressing with apartment layouts. The website is underway with reservations soon to be available.
• White Amber — project design and visualisations are in progress. In parallel, the website is being developed, and the reservation process will begin soon.

As we move forward, our priority remains delivering a stronger, more transparent platform while continuing to grow the Devon project portfolio.