New property platform Devon* features investment in high interest mezzanine loans for Latvian properties. Launched by MJL Enterprise Group which claims 30 years of experience on the market, it will be used by the group to finance own property development projects. Previously the group used other platforms, including Estateguru, Profitus or Crowdestate but now has moved the financing inhouse under its own control. The mezzanine loans rank behind senior debt, which explains the high interest rates of up to 15%.
Currently there are 3 properties available on the platform:
The minimum investment amount is 1000 EUR.
The loan terms end Dec. 2026, Dec. 2027 and Dec. 2025 respectively. While there is no secondary market, Devon features an early exit option where lenders can exit early if another investor is willing to buy the loan investment at par value. For this feature Devon clearly modelled itself on Ventus Energy*.
The interest is credited daily and it can be set either to compound or to payout. With the latter it can be withdrawn once the minimum payout threshold of 10 EUR is reached.
Currently (for investments until May 31st) Devon* offers a generous early bid cashback of 3% which will instantly be invested in the same property. On top of that investor receive 1% cashback on all investments in the first 60 days after signing up via this Devon* link.
The Devon platform has no fees for investors. The unregulated Devon OÜ platform company is registered in Estonia, therefore no withholding taxes are applied on investor interest payouts.