The second phase of the bond offering has been successfully completed: investors purchased an additional 4.5 million euros worth of bonds for the “Cascada De Camojan Developments” luxury villa project. Over the course of two phases, securities worth 12.5 million euros have already been issued. In the third phase, bonds worth 2.5 million euros will be issued, completing the planned 15-million-euro offering. The project, located in Marbella—a destination beloved and highly regarded by Lithuanian residents—is unique: the complex consists of six very spacious villas (approximately 1,100 square meters each) featuring swimming pools, terraces, and spacious courtyards. Designed for high-income clients, the complex is located in a gated community, offering villa residents and guests breathtaking views. A building permit is currently pending; construction of the complex will begin immediately thereafter and is scheduled for completion in the first half of 2028. Key terms of the second phase:

  • Duration: 1.5 years
  • Annual interest rate: 8%
  • The bonds are secured by a first mortgage. The project’s property value was estimated at 20 million euros as of the end of 2025.

“Currently, there is a very large supply of real estate developer bonds on the market, so investors have plenty to choose from and are scrutinizing bond offerings very carefully. The issuer’s experience, reputation, track record of previous issuances, evaluations of the project being financed, and other factors—including the country of origin—play a major role. Estonia has been and remains an additional mark of quality. This is already the second project by the experienced developer “Endover” for which we are raising funds, and we have previously contributed to the launch of large-scale real estate projects in Tallinn, such as “Büroo 31” and “Stellar.” “We’re seeing interest and support from investors, so we’ll continue to expand in this direction,” says Vismantė Šepetienė, Director of Evernord FMĮ.

“Volta SKAI” is considered one of the most exciting residential projects in North Tallinn. The two 12-story towers will feature panoramic views of the Baltic Sea, Tallinn’s Old Town, and the city center. The total net saleable area of “Volta SKAI Tower B” will be approximately 4,300 m², including residential and commercial spaces as well as parking spaces. The total value of the entire project is approximately 21.7 million euros.

“Volta SKAI Tower B” recently set an Estonian record—it was the site of the largest apartment sale in the country’s history: the buyer will pay nearly 4 million euros for a floor-to-ceiling apartment spanning more than 340 square meters, complete with a terrace of nearly 300 square meters.

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