Every investor who came back. Not one walked away.
The company finances entirely through private funds from wealthy families, achieving 100% investor recurrence with funds growing ~30% annually since 2015. Target buyers are couples aged 30-45 with average apartment prices between $450k-$650k; 80% of sales occur in pre-sale phase, above Lima's 60% average.
- 15% revenue growth target for 2025
- 100% investor recurrence rate since 2015
- Average apartment price: $450,000–$650,000
- 80% of sales in presale phase (vs. 60% Lima average)
- 94% of units undergo co-design customization
Lateral Inmobiliaria projects 15% growth in 2025 by financing luxury residential projects in Lima's top districts with capital from high-net-worth families, achieving 100% investor recurrence through private funds.
Lateral Inmobiliaria is betting on a 15% jump in revenue this year, riding the momentum of apartment sales and handovers in Lima's wealthiest neighborhoods. The company's entire operation runs on money from high-net-worth families—no banks, no public markets, just private funds structured deal by deal. Boro Fleischman, the company's general director, walks through the math: five projects in motion, two already fully sold, three still in presale or under construction. That pipeline is what gives them confidence in hitting their growth target.
What makes Lateral's model unusual is how it has locked in its investors. Since 2015, the company has raised capital from wealthy families through private funds, and every single investor who participated in one fund has come back for the next round. That 100% recurrence rate doesn't happen by accident. The funds themselves have grown roughly 30% with each iteration, fed almost entirely through referrals. The financing structure flexes depending on what each investor needs and what each project demands—some investors take equity stakes in the development vehicle, others provide debt, still others buy units in presale. The company keeps skin in the game on every deal, which Fleischman says investors view as a sign of genuine commitment.
The typical buyer is a couple in their thirties or early forties, often recently married or raising one or two young children. About two-thirds are married, a quarter are single, and a small slice are divorced. Many stay in the same district where they already live—the Miraflores resident buys in Miraflores. When it comes to money down, buyers put between 10% and 30% of the purchase price upfront. Roughly 70% finance the rest through a mortgage; the other 30% pay cash. The average apartment sells for somewhere between $450,000 and $650,000. What's striking is the velocity: Lateral's buildings typically sell out before they're even finished. The company sees 80% of its sales happen in the presale phase, with another 15% to 20% moving during construction. That's well above Lima's market average of 60%-30%-10%, and it happens alongside steadily rising prices.
The way people want to live has shifted noticeably in recent years. Nobody asks for a maid's room anymore—they want that space converted into a walk-in closet or a home office. Kitchens should be closed off, not open to the living area. Demand for balconies and dedicated home office rooms has dropped sharply. Lateral has made customization a core part of how it operates. Ninety-four percent of all units sold historically go through a co-design process where the buyer can modify the space. About 30% of buyers actually request changes—moving walls, expanding the kitchen, combining rooms. The company has built a specialized team to handle these modifications without pushing back delivery dates or voiding warranties. The remaining 6% of sales are units where changes are no longer feasible by the time of purchase.
Beyond the apartment itself, Lateral has identified post-sale service as a genuine competitive edge. The company tracks how fast it responds to defects and measures customer satisfaction in the months after handover. Fleischman emphasizes that this phase is where the company either proves it delivered what it promised or fails its buyers. The company also operates spaces called Casas Lateral—showrooms and gathering places designed both to convert new buyers and to build community among existing ones.
Looking ahead, Lateral is hunting for land to develop more projects. The strategy remains focused on Lima's premium districts—the neighborhoods where the company already operates and understands the market. Fleischman doesn't rule out surprises, but the core mission is clear: stay in that upper tier of projects and buyers, because that's where Lateral's advantage lives.
Citações Notáveis
The expectation is to grow around 15% compared to 2024. That is our objective for this year.— Boro Fleischman, general director of Lateral Inmobiliaria
We always have skin in the game. Investors value that as an additional commitment.— Boro Fleischman
A Conversa do Hearth Outra perspectiva sobre a história
Why does a real estate company need 100% investor recurrence to work? Couldn't they just raise new money each time?
They could, but recurrence means something deeper—it means the same families keep coming back because they made money last time and trust the team. That's harder to build than a one-off raise. It also means Lateral doesn't have to spend energy convincing strangers; the referral network does the work.
So the 30% growth in fund size—is that profit, or is it the fund itself getting bigger?
It's the return on the investment. Each fund grows about 30% beyond the original capital that went in. That's what brings investors back.
The customization piece is interesting. Why does 94% of buyers want to change something?
Because a $500,000 apartment is deeply personal. People don't want a generic box. They want their kitchen a certain way, their closet bigger, their walls in different places. Lateral figured out that letting them do that—without blowing up the timeline—is worth more than any marketing.
But doesn't that slow down construction?
It would, if you didn't plan for it. Lateral built a team specifically to absorb those changes early, before they cascade into delays. It's a cost, but it's a cost they've decided to pay because it moves inventory faster.
The 80% presale rate is striking. How do they sell that much before the building exists?
Trust and location. These are wealthy buyers in neighborhoods they already know. They're not gambling on an unknown developer in an unknown area. They're buying in Miraflores or San Isidro from a company that has delivered before. And prices are rising, so there's urgency.
What happens to the 20% of buyers who come in during construction?
They're buying a unit that's closer to finished, so they can see what they're getting. Less customization possible, but less risk too. It's a different buyer profile—maybe someone who waited to see how the market moved, or who found out about the project later.