Evernord enters the Finnish market: acquires a building complex in Helsinki
Evernord Real Estate Fund VI, managed by the Evernord Group, together with its partners and project developers, Finnish company Mirlux Oy, has acquired the majority of shares in Kiinteistö Oy Mannerheimintie 168B from Kojamo Oyj. The transaction involved the acquisition of a building on a main street in Helsinki, which will be renovated to meet current market needs and increase the proportion of residential space.
"The Finnish real estate market is characterized by high quality standards and sustainable development principles, but there is a shortage of supply in the affordable segment and in good locations. The new property allows our investors to diversify their investments in the safer Nordic region. Together with a strong local partner, we expect to achieve double-digit returns and offer more attractive opportunities for investors," says Gintaras Rutkauskas, CEO of Evernord Asset Management.
The Evernord Group has been operating successfully in the Baltic region for many years, and in response to investor demand, it continues to seek projects offering greater regional diversification in both the Nordic countries and southern Europe, particularly Spain, noted Rutkauskas.
Mirlux OY is acting as a minority shareholder, project developer, and property manager in this project together with Evernord.
"This project perfectly reflects Mirlux's core competencies – responsible and comprehensive real estate development that combines functionality, quality, and sustainable urban development," said Leena Juvani, Business Manager at Mirlux Oy.
The buildings acquired by the Evernord fund and Mirlux are located in the Pikku Huopalahti/Ruskeasuo district of Helsinki, 15 minutes from the city center. The total area of the complex is 6,649.5 square meters. The complex currently comprises 56 apartments as well as commercial and office premises.
For more information, visit: https://www.delfi.lt/projektai/elta/evernord-fondas-isigijo-pastatu-kompleksa-helsinkyje-120167333
A new stage in the prestigious Marbella villa project
The investment management company Evernord has entered a new stage in the development of a prestigious villa project in the Marbella region of Spain. The company has successfully distributed the first stage of the €15 million bond issue for the Cascada De Camojan Developments project, amounting to €8 million. The investments attracted will finance the second part of the purchase of the plot of land acquired in Marbella and the further development of the villa project.
The bonds have a maturity of 2.5 years and an annual interest rate of 8%. The bonds of the Cascada De Camojan Developments project are secured by a first mortgage. This is one of the largest bond issues distributed by Evernord in recent times.
"The project, which started more than a year ago, is gaining momentum. We see investors' confidence in this project and are pleased to be able to offer them the opportunity to diversify their portfolios geographically, which is particularly relevant at this time. At this stage of capital raising, we have attracted investors from Lithuania, Latvia, and Estonia. The location of the project in the residential area of Marbella is particularly attractive: the supply of plots in the central part of Marbella is very limited, so the demand and potential for high-end housing remains very high," says Vismantė Šepetienė, director of Evernord FMĮ.
Six luxury villas will be built on the more than 1.2-hectare plot acquired by the Marbella Property Fund, established by Evernord Asset Management. The project envisages individual villas of approximately 1,100 square meters with a swimming pool, terrace, and courtyard.
Evernord is developing the project in Marbella together with its Estonian partners Novira Capital. The implementation of the project is supervised by experienced local partners in Spain – the Marbella real estate brokerage company Solvila, which has already developed more than 150 projects and specializes in the sale of high-end properties.
The architectural competition was won by AMES arquitectos, a local architectural firm specializing in the design of prestigious villas. The company has completed more than 160 projects with both developers and individual clients.
Find out more: https://www.vz.lt/rinkos/2025/08/01/lietuviu-ir-estu-investuotojai-viloms-ispanijoje-obligacijomis-pasiskolino-uz-8-571266
6 million euros for the Mūnai by CITUS project
One of the rules of investing is that projects in which investors entrust their funds must be implemented smoothly and transparently.
The Mūnai by CITUS quarter in Vilnius's Šiaurės miestelis district is being developed according to a precisely planned financing schedule, with careful monitoring of the market situation. The project owner and client, the management company Demus Asset Management, took advantage of a favorable opportunity to issue bonds, which were distributed by Evernord.
- A 2.5-year, €6 million subordinated bond issue managed by Demus Asset Management was distributed. Annual interest rate – 7.9% + 3m Euribor.
- The redemption date for the new issue is January 15, 2028.
- "A bond issue is not only a financial instrument, but also a responsibility to investors.
"A bond issue is not only a financial instrument, but also a responsibility to investors. The Demus Asset Management project proves that high-quality real estate development, with well-considered financing stages and methods, is sustainable and builds trust in the market. Consistent work with partners, open communication, and responsibly weighed decisions are the key factors that determined the success of this bond issue," says Vismantė Šepetienė, Director of Evernord FMĮ.
"More than a year ago, we embarked on a major project in one of the most promising locations in the city – Mūnai by CITUS. The participation of retail investors in the project was and remains very important to us, so we chose Evernord, experts in their field, for this collaboration. Their professionalism in distributing the issue to retail investors and presenting the appeal of residential real estate met our expectations and interests," says Mindaugas Liaudanskas, Head of Demus Asset Management.
Mūnai by CITUS is an A++ class complex of six residential and two administrative buildings in Žirmūnai, Vilnius. The project is expected to be completed in 2029. In the first and second stages, which are currently under development, 132 apartments have already been sold. A total of 477 upper medium class homes are planned for the project.
Find out more: https://www.linkedin.com/feed/update/urn:li:activity:7354147562204893184
Legal Balance bond issue worth €1.2 million distributed
Evernord FMĮ distributed a €1.2 million bond issue by the debt collection company Legal Balance. Legal Balance consistently borrows through bonds and invests in debt in order to maintain an optimal capital structure. The company also aims to maintain an equity ratio of at least 20%.
About the bonds distributed by Evernord:
- Issue size – EUR 1.2 million;
- Annual interest rate – 6.2% + 6-month Euribor;
- Interest paid to investors quarterly;
- Bond redemption date – October 10, 2028;
- Bonds secured by first mortgage.
"Our long-standing partnership with Legal Balance allows us to rely on the consistency of the company's strategy as a partner. The company's results – EBITDA and pre-tax profit – are growing. In the first quarter of this year alone, the company invested over €4.2 million in debt purchases and recovered over €3.9 million from purchased debts during the same period. The figures confirm that the company is operating efficiently, which convinces investors who lend to the company through bonds," notes Vismantė Šepetienė, head of Evernord FMĮ.
Marius Šlepetis, Head of Legal Balance: "Evernord not only helps our company attract capital—their insights and active involvement allow us to create sustainable value for investors and clients. Over the years of our cooperation, Evernord has become a reliable financial partner. We know that we can rely on their professionalism at every stage."
Find out more: https://www.linkedin.com/feed/update/urn:li:activity:7351546949998649345
Evernord Real Estate Fund VI gains momentum
Evernord Real Estate Fund VI, which offers indirect investment opportunities in residential real estate in the Baltic and Scandinavian countries, is gaining momentum. Evernord has already attracted €4.2 million in investor capital to this fund.
Evernord Real Estate Fund VI is a closed-end fund for informed investors with a target size of €25 million. The fund ensures a stable income stream: it plans to acquire properties that are already 100% leased. We will seek double-digit annual returns for investors.
"We are currently focusing on the real estate management and rental market in Estonia and Finland. The Estonian and Finnish economies are expected to recover this year, and housing prices in these regions are set to rise. So we are already offering attractive investment opportunities in Tallinn and Helsinki," says Gintaras Rutkauskas, head of Evernord Asset Management.
In Helsinki, the fund plans to acquire a complex of buildings that has already been leased. The complex is attractive due to its convenient location and extremely comfortable living conditions for residents.
Another project is Stellar, a new construction project in the center of Tallinn. After analyzing the apartment rental market in Tallinn, we see that the choice of new construction projects in the center is limited, while demand is growing, so Stellar has excellent prospects in this context.
Evernord has many years of experience in real estate development and management and currently manages real estate funds in Lithuania 🇱🇹, Estonia 🇪🇪, Latvia 🇱🇻, and Spain 🇪🇸. We currently manage more than 100 rental apartments throughout Lithuania. When acquiring projects, we focus on cities that attract large populations and where property values are likely to increase in the future.
Find out more: https://www.linkedin.com/feed/update/urn:li:activity:7343968036871135232
Investments in Novira Plaza returned to investors
Investors who assessed the prospects of the Novira Plaza Riga Class A business complex project and invested in SIA Marijas 2 bonds have received their invested capital and interest earned. The Nasdaq stock exchange announced that the bonds were successfully redeemed and interest paid on May 30, 2025. The securities were redeemed using a EUR 44 million loan from Swedbank Latvia, which was used to meet obligations to investors and the needs of new tenants of the business complex.
We would like to thank the investors who contributed to the development of this unique project in Riga. Both the confidence of investors and the financing provided by Swedbank indicate that the Novira Plaza Riga project is extremely attractive and promising.
We are also delighted with our long-standing partnership with Novira Capital – working together, we are implementing a number of projects in the Baltic countries that are attracting the attention of investors.
Find out more: https://www.linkedin.com/feed/update/urn:li:activity:7335587054908547073
Dehidra redeemed bonds worth EUR 4 million
Dehidra JSC, a company producing freeze-dried fruit and berries, with which we have been cooperating since 2021, has redeemed bonds worth EUR 4 million issued four years ago.
The borrowed funds were used to expand the company's export geography and purchase new production equipment. This allowed the company to increase its sales by as much as eight times, from €1.4 million in 2021 to €11.3 million in 2024.
Evernord is delighted with the successful redemption of the bonds, with investors receiving an annual interest rate of 12% for four years.
Why did we believe in this project and the success of our cooperation with Dehidra JSC? We were convinced by factors that should be taken into account in any investment project:
- Strong shareholders with significant investments in the project and the company;
- Rapid annual sales growth in various markets;
- A manufacturing company offering opportunities to diversify investments;
- Signed international contracts with product buyers;
- An export-oriented company working with the largest global markets: Germany, the US, the UK, and South Korea;
- The products manufactured are innovative and in line with global healthy food trends;
- Additional bank financing secured for the company even before the bond issue;
- Competent management team that manages investments responsibly.
In 2025, the company plans to double its production capacity, continue to rapidly increase sales, and further strengthen its position in the healthy snack market.
Find out more: https://www.linkedin.com/feed/update/urn:li:activity:7328057959698030593
Evernord announced a significant transaction
Significant transaction in the market: C&C, an Italian company that operates one of Europe's largest Apple Premium format store chains, has acquired the iDeal Lietuva brand. Evernord advised on this transaction and contributed to its smooth completion. PwC Lithuania represented the owners of iDeal Lietuva in the transaction.
"We are delighted that well-known companies rely on our team's expertise and professionalism in the field of transaction advice. Seeing such trust from companies, we continue to strengthen our team and bring together the best professionals in our field," says Vismantė Šepetienė, Head of Evernord UAB FMĮ.
Last year, Evernord UAB FMĮ approved one of the most significant transactions in the Lithuanian media market – the acquisition of the M-1 radio station group by 15min grupė.
In May 2023, Evernord was entrusted with the approval of a transaction between gas transmission system operator Amber Grid and German energy exchange European Energy Exchange AG (EEX) signed a share purchase agreement for the gas exchange GET Baltic Gas Exchange, operating in the Baltic States and Finland.
Find out more: https://www.linkedin.com/feed/update/urn:li:activity:7325489132011495425
€8.8M Bond Issuance for Endover’s Project
Investment management company Evernord has successfully completed a private bond issuance, enabling Estonian real estate developer Endover to raise €8.8 million.
Evernord, which has a strong track record in arranging financing for large-scale real estate projects, attracted investors primarily from Lithuania, as well as from Latvia and Estonia. “For Estonian companies, expanding the geographical reach of their investor base is becoming increasingly important when utilizing such financing instruments,” noted Annaliisa Vinnal, Evernord’s representative in Estonia.
The two-year bonds carry an interest rate of 9% plus a three-month Euribor, with a total of 8,800 bonds issued, each with a nominal value of €1,000. “Thanks to this successfully completed private placement, the next phase of the Volta Galerii Lofts II development is now fully funded, ensuring the project remains on track,” stated Kadri Koplimäe, CFO of Endover. She also highlighted that Endover is preparing an additional 100,000 m² of residential and commercial real estate projects.
The Volta Quarter is one of Tallinn’s most significant and successful urban developments. Endover is revitalizing the 125-year-old industrial district, transforming it in line with the 15-minute city concept. The development spans 142,000 m², featuring over 750 apartments, 50,000 m² of commercial space, a kindergarten, a fitness center, and a park with recreational areas. To date, thirteen buildings have been completed, with another five to eight currently under construction or in preparation. Among these is Volta HUB, North Tallinn’s largest business and community center, offering nearly 40,000 m² of new commercial and residential space.
With over 25 years of experience, Endover is one of Estonia’s leading real estate developers, specializing in integrated residential and commercial environments. Its portfolio includes 70 buildings and 2,840 apartments, covering a total area of 368,000 m².
Evernord has also made significant real estate investments in central Tallinn, including Büroo31 and Stellar, as well as Novira Plaza Riga, which was completed last year and awarded Latvian Real Estate Project of the Year.
The Evernord Group, which manages investments across Estonia, Latvia, and Lithuania, provides asset management, corporate financing, and wealth advisory services. Currently managing five investment funds, the group’s assets under management exceed €250 million.
Evernord Bond Fund surpasses €10 million
"The Evernord Bond Fund, an open-ended fund for informed investors within the Evernord Group, has surpassed EUR 10 million in size and is now on track to reach its target size of EUR 50 million. The bond fund was launched in July last year. The fund's portfolio currently includes 30 different corporate bonds.
The fund is currently invested in corporate bonds from 14 different industry sectors and the issuers of the bonds in the portfolio are from 12 different countries.
At the end of February, the Evernord Bond Fund's investments by sector were dominated by manufacturing (15%), financial services (13%) and other services (10%). By country, the Fund invested mainly in Germany (22%), Latvia (14%), Spain and France (11% each). In Lithuania, 8% of the fund's current value was invested.
"Evernord Bond Fund's strategic objective is to offer investors a wide selection of bonds from different sectors, while reducing the risk of concentrations of securities from the real estate (RE) sector in client portfolios. The Fund has set a target that the share of real estate in the total portfolio should not exceed 15%.
"We consider it a great success that we have managed to raise more than EUR 10 million in the first half of the year and we expect to continue our strong growth. The fund is attractive to investors because it can offer a very broad diversification of investments by sectors and regions, thus significantly reducing the risk in the home market - the Baltic States. We have a strict investment structure and aim for a share of 2-3% per position in the portfolio," notes Gintaras Rutkauskas, Manager of Evernord Bond Fund and Director of Evernord Asset Management. - Now is still a good time to lock in interest on bonds, as the yield on debt securities is comparable to the long-term return on equities. Particularly in the volatile economic environment under US President Donald Trump, the price stability of bonds is significantly better than that of equities."
Rutkauskas adds that the macroeconomic environment is also driving the search for attractive investment avenues. On 6 March this year, the European Central Bank (ECB) lowered its base interest rate to 2.5%. Markets expect at least two more cuts to 2% in 2025, and if economic growth slows down, it is possible that the ECB could cut interest rates even faster. These actions will have a positive impact on corporate finances, but yields will fall, so it is important to lock in higher interest rates, says the manager of Evernord Bond Fund.
"Evernord Bond Fund is the first fund of its kind in Lithuania to have a limited investment period of 1.5 years from the start of distribution until the end of this year. At the end of the investment period, a portion of the fund's units will be redeemed and dividends will be paid out on a quarterly basis, thus generating a recurring income for the fund's investors every quarter. The fund aims at an annual return of 8-9%.
"Evernord Bond Fund bonds are selected and evaluated by a team of professionals with extensive experience in the corporate finance sector. The fund's team has a long-standing partnership with the Finnish Evli Group and other Scandinavian financial market players to ensure bond diversity. The Scandinavian bond market currently exceeds EUR 300 billion and is the second largest in Europe.