SIA Baltic Real Estate Holding, an experienced Latvian real estate developer, is launching the construction process of 2500 m2 apartment building at Krisjana Barona Street 72, Riga and is planning to attract a medium-term mezzanine financing for 24 months.
Barona 72 (the official name of the project) will be a modern 22 apartment house, located on the cross of two historical streets in the central part of Riga: Krisjana Barona Street, which is a pedestrian devoted vibrant boulevard with lots of restaurants, cafes, and small shops, and Bruninieku Street – quiet and cosy avenue that is perfect for a slow walk among Riga art nouveau heritage.
The expressive modern style building was designed by progressive Northern European architect team, and it will represent new lines in the appearance of Riga. Architectural solutions feature modern tendencies: natural stone, wood, glass, and concrete. Interiors represent soft colours, comfortable and aesthetic composition of furniture and other design elements.
The buildings will have apartments ranging from 45 m2 to 70m2 – most demanded size in the central part of Riga. On the top floor there will be spacious penthouses of up to 130 m2. The development plan for Barona 72 includes underground parking for 11 cars plus 9 parking lots above the ground. The apartments will have wide terraces or comfortable balconies. Total living area of the building will be 1 665 m2, also 220 m² on the ground floor are reserved for commercial premises. The project assumes full construction with complete furnishing of all apartments.
The project has received the construction permit and is finalizing negotiations on the construction agreement. The construction will start in August 2018 and will finish in 18 months from that date.
Envestio participant’s investment - EUR 1 000.00
Total expected return: EUR 1 360,49Invest in this project
|Kreditnehmer||SIA “Baltic Real Estate Holding”, Reg. Nr. 50003757141, Latvia|
|Zweck des Darlehens||Construction of 22 apartment building in Riga, Latvia|
|Rückzahlung des Darlehens||In full at the end of the Loan Period|
|Kapitalrückkauf möglich||Yes, 5% penalty rate|
|Zahlung von Zinszahlungen||Monthly, on a specific date|
|Typ der Finanzierung||Gesicherte Darlehen|
|Garantie vom Eigentümer des Projekts||Commercial pledge in favor of Envestio Collateral Agent|
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