Evernord completes the eighth issue of Marias 2 bonds: almost EUR 5.3 million were raised

The financial brokerage firm Evernord has issued EUR 5.275 million worth of bonds of Evernord Real Estate Fund III and Marijas 2 SIA, a company managed by the Estonian development company Novira Capital, in the eighth round of the public offer. The funds raised finance the construction of Novira Plaza Riga, a business complex in the centre of Riga, in which Evernord Asset Management has a majority stake.

The bonds issued by Marijas 2 SIA have an annual yield of 8.5%. The project has already attracted EUR 37.3 million of investor funds through bonds in all eight phases. The bonds mature on 30 May 2024.

"Double-digit yield bonds have become commonplace in the market, so a successful issue that stays within this threshold must be distinguished by its quality and the trust it has earned with investors. The eighth round of Marijas 2 SIA debt placement already confirms that the investment is in a promising, well thought out and structured project, implemented by a professional and responsible team," noted Vismantė Šepetienė, Director of Evernord.

Novira Plaza is a modern Class A business centre being completed in the heart of Riga. The business complex is characterised by its sustainable solutions, abundance of green spaces and advanced infrastructure suitable for pedestrians, cyclists and motorists. The developers are aiming for LEED Platinum certification in the first year of the building's operation.

Novira Plaza is expected to be completed by the end of this year.

The co-working spaces in Novira Plaza will create 250 jobs for entrepreneurs, freelancers, start-ups and companies looking for a flexible and dynamic working environment. Lease agreements with the business complex have already been signed by well-known companies operating in the Baltic States, including PwC Latvia, SIA Wolt Latvia and GoCardless.


Investing in green projects is increasingly attractive

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Environmental and climate change mitigation issues are increasingly permeating the investment landscape. The GREENTECH VILNIUS Forum put the greening of the market into a broad context, and Evernord's Vismantė Šepetienė took part in a discussion on what actions and projects can lead to more sustainable urban development and increase the attractiveness of cities for investors.
"When asked how investors feel about green investments, about investing in sustainable projects, my answer is simple: positive. Investing in projects based on ESG standards is becoming increasingly attractive. These projects create solid added value, preserve investment value in the long term, and fuel the green engine: real estate objects developed according to sustainability principles attract companies that comply with ESG standards, and they spread these practices further through their sustainable activities," Vismantė Šepetienė shares her insights after the discussion.
Evernord's Marijas 2 SIA bonds are an example of sustainable investment. The funds raised by the bonds are invested in the construction of the modern business complex Novira Plaza Riga. The business complex is expected to achieve LEED Platinum certification within the first few years of operation.


€2.5 million attracted for an exciting project by the Baltic Sea

Another successful bond placement project! Evernord has completed the first tranche of a EUR 2.5 million bond issue for the real estate development company SBA Urban's Kopų Slėnis apartment project in Palanga, out of a total bond issue programme of up to EUR 6.5 million. Almost 50 investors participated in the private placement, which is secured by real estate.

"When we started cooperation with Kopų slėnis, we anticipated that investors who want to diversify their portfolio by contributing to promising real estate projects would find this opportunity interesting - this is due to the project's concept, its location close to the Baltic Sea coast, and its attractive architectural solutions. We have seen that the project has a strong client interest, which shows its viability and reflects the trust in the developers. As we expected, there was no shortage of investor interest," says Vismantė Šepetienė, Director of Evernord.

The terms of the bond issue were attractive to investors: the maturity is 15 months with an early redemption option after 9 months. The bonds have an annual yield of 9% and interest will be paid semi-annually.

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New fund to develop a multi-storey building in Tallinn

"Evernord Asset Management", an asset management company belonging to the Evernord Group, has set up a new fund that has acquired a plot of land with a detailed plan in the centre of Tallinn and intends to develop it into a multi-storey building for residential and commercial purposes.

"Evernord Real Estate Fund V is a closed-end fund for informed investors.

"The new building will be located in the centre of Tallinn on Tartu Street, within walking distance of the Old Town. There is a strong demand for new housing in this part of the Estonian capital, so the new Evernord Real Estate Fund V will provide an attractive opportunity for investors to invest indirectly in a promising residential and commercial development. The future building will offer unparalleled views of the harbour and the sea. The project will be developed in a strategically attractive location, which is particularly important for real estate investments," notes Jolanta Jurga, Head of Evernord Asset Management.

The building is planned to have more than 16,000 square metres of apartments and office space. Construction is expected to be completed by the end of 2025, with the closure of the Fund scheduled for 2026-2027, following the sale of the apartments and office space.

Evernord Real Estate Fund V's Tallinn project will also include the company's Estonian partners Novira Capital.

At the beginning of this year, Evernord Asset Management closed its fund Evernord Real Estate Fund II early, following the successful sale of Buroo 31, an office building in Tallinn managed by the fund. The fund had an internal rate of return (IRR) of 14.3%.

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