Swedbank Latvia has announced a loan of EUR 44 million to the Novira Plaza Riga business centre, which is being developed in Riga by the Lithuanian financial services company Evernord’s Evernord Real Estate Fund III and the Estonian real estate developer Novira Capital.
The loan will be used to redeem earlier bonds to finance the construction and to cover the fit-out costs of tenants, Evernord said in a news release on Monday.
“We see the bank’s decision to provide the substantial loan as a note of confidence which allows us to begin a new stage in the project’s lifecycle,” says the company’s CFO, Arnas Vedeckis.
Vedeckis added that most of the space in the two-building complex has already been leased out, adding that the site, with total floorspace of 39,000 m2, will create 240 jobs.
Last June, Evernord and its partners issued the first EUR 50 million bond tranche for Marijas 2, which is co-owned by Evernord Real Estate Fund III and Novira Capital. The sale raised EUR 42.7 million for the Novira Plaza Riga project.
Source: BNS
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