Hepsor U34 SIA, Hepsor AS group company, signed 9 million euro loan agreement for financing the construction of StokOfiss 34 project in Riga
June 13 2024 - 12:00AM
Hepsor U34 SIA, Hepsor AS group company, signed 9 million euro loan
agreement for financing the construction of StokOfiss 34 project in
Riga
On June 12, 2024, Hepsor U34 SIA, Hepsor AS
group company, and Latvian affiliate of Bigbank AS signed a loan
agreement for the amount of 9 million euros. The purpose of the
loan is to finance the construction of StokOfiss 34 development
project in Riga. In addition to the bank, financial investors are
also involved in financing the development project, with a total
investment amount of 1.7 million euros.
The development will consist of a commercial
building with office, commercial, and warehouse space totalling
approximately 8,740 square meters. Completion is planned for the
third quarter of 2025. StokOfiss U34 is designed with Hepsor's
green mindset in mind, and the building has been issued an energy
class A and BREEAM sustainability certificate at the "Very good"
level.
Additional Information:
StokOfiss U34 is the second stage of Hepsor's
commercial building development on Ulbrokas Street. The first
stage, StokOfiss U30, was completed in the fourth quarter of 2022
and sold to the investment fund East Capital in the second quarter
of 2023.
In addition to the StokOfiss 34 project, Hepsor
will start constructing commercial spaces in 2024 also in the
Manufaktuuri 5 project (https://hepsor.ee/manufaktuurivabrik/),
where, in addition to commercial spaces, modern residential spaces
will be built in the historic former main building of the Baltic
Cotton Spinning and Knitting Factory. At the end of 2024 or the
beginning of 2025 Hepsor will start construction of Ganibu Dambis
(https://hepsor.lv/veidamakvartals/?lang=en) commercial building in
Riga.
More information about StokOfiss 34 project can
be found https://hepsor.lv/stokofissu34/en/
Henri Laks Member of the Management Board Phone: +372 5693 9114
e-mail: henri@hepsor.ee
-
Hepsor AS (www.hepsor.ee) is one of the fastest growing
residential and commercial real estate developers in Estonia and
Latvia, operating also in the Canadian real estate market
since 2023. Over the last thirteen years Hepsor has developed more
than 1,600 homes and 36,000 m2 of commercial space. Hepsor was
the first real estate developer in the Baltic States to implement
several innovative engineering solutions that make the buildings we
construct more energy-efficient and thus more environmentally
friendly. The company's portfolio is comprised of 24
development projects with a total sellable space of 171,000 m2.