Object

The property is an apartment with a total area of 94,8 sq.m in a renovated residential building built in 1907 by the project of the architect Aleksandrs Vanags. The renovation works were carried out in 2018, renewing the facade, redesigning apartments, installing a new elevator and replacing all utilities.

Located at the centre of the city, the property is in close proximity to the most popular commercial and entertainment areas, Old Town, parks and museums as well as educational institutions.

Loan target

The loan is intended to increase the operating capital of the borrower’s company, which will be used for other real estate development projects.

Amount of the loan

150 000 EUR

Independent valuation of the property

242 000 EUR 

Borrower

SIA “Riga Estates” (Reg. no. 40103911034)

Security

This is a mezzanine loan where Bulkestate secures investors' interests through legal arrangements providing control over the management of transactions with the properties.

Repayment term

12 months

Repayment of the investments

The principal amount of the investment and the accrued interest will be paid out in a single payment at the end of the repayment term.