Investment management company Evernord has successfully completed a private bond issuance, enabling Estonian real estate developer Endover to raise \u20ac8.8 million.<\/p>\n
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. \u201cFor Estonian companies, expanding the geographical reach of their investor base is becoming increasingly important when utilizing such financing instruments,\u201d noted Annaliisa Vinnal, Evernord\u2019s representative in Estonia.<\/p>\n
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 \u20ac1,000. \u201cThanks 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,\u201d stated Kadri Koplim\u00e4e, CFO of Endover. She also highlighted that Endover is preparing an additional 100,000 m\u00b2 of residential and commercial real estate projects.<\/p>\n
The Volta Quarter is one of Tallinn\u2019s 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 m\u00b2, featuring over 750 apartments, 50,000 m\u00b2 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\u2019s largest business and community center, offering nearly 40,000 m\u00b2 of new commercial and residential space.<\/p>\n
With over 25 years of experience, Endover is one of Estonia\u2019s 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 m\u00b2.<\/p>\n
Evernord has also made significant real estate investments in central Tallinn, including B\u00fcroo31 and Stellar, as well as Novira Plaza Riga, which was completed last year and awarded Latvian Real Estate Project of the Year.<\/p>\n
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\u2019s assets under management exceed \u20ac250 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
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