Evernord has successfully completed the second phase of the distribution of a \u20ac14.4 million bond issue by the Estonian real estate developer Endover, during which investors purchased \u20ac4 million worth of debt securities. The funds raised will be used to finance the construction of \u201cVolta SKAI Tower B,\u201d the second 12-story tower of the exclusive residential project \u201cVolta SKAI.\u201d This is already the second Endover project for which Evernord has helped secure financing. Last year, we issued bonds worth 8.8 million euros to finance the \u201cVolta Gallery Lofts\u201d residential project. Terms of the bonds issued for the development of the \u201cVolta SKAI\u201d project:<\/p>\n
\u201eCurrently, there is a very large supply of real estate developer bonds on the market, so investors have plenty to choose from and are carefully analyzing the offerings. The issuer\u2019s experience, reputation, track record of previous issuances, evaluations of the project being financed, and other factors\u2014including the country of origin\u2014play a major role. Estonia has been and remains an additional mark of quality. This is already the second project by the experienced developer \u201cEndover\u201d for which we are securing financing, and we have previously contributed to the launch of large-scale real estate projects in Tallinn, such as \u201cB\u00fcroo 31\u201d and \u201cStellar.\u201d \u201cWe\u2019re seeing interest and support from investors, so we\u2019ll continue to expand in this direction,\u201d says Vismant\u0117 \u0160epetien\u0117, Director of Evernord FM\u012e. \u201cVolta SKAI\u201d 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\u2019s Old Town, and the city center. The total net saleable area of \u201cVolta SKAI Tower B\u201d will be approximately 4,300 m\u00b2, including residential and commercial spaces as well as parking spaces. The total value of the entire project is approximately 21.7 million euros. \u201cVolta SKAI Tower B\u201d recently set an Estonian record\u2014it was the site of the largest apartment sale in the country\u2019s 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.<\/p>\n