Hepsor U30 SIA, a subsidiary of Hepsor AS in Latvia, signed a loan agreement
with Bigbank AS Latvian affiliate on 14 January 2022 for the amount of 2.65
million euros. The purpose of the loan is to finance the construction of stock-
office in Riga, Ulbrokas 30. Total leasable area of 3,645 sqm is fully covered
with lease agreements. The expected completion of construction is in third
quarter 2022.
According to Henri Laks, member of the Management Board of Hepsor AS, the
development of stock-office projects is one of the company's strategic focus
areas in Latvian market. Besides Ulbrokas 30 stock-office development project
Hepsor has another two stock-office projects in early stages in Riga.
Approximately 8,000 sqm stock-office project in Riga at Ulbrokas 34 is expected
to be completed in 2023. At the end of 2021 Hepsor signed contract under law of
obligations to acquire a property at Ganibu Dambis 17a, Riga. Hepsor intends to
use the property for developing a business complex with extensive opportunities
such as offices, warehouses, and retail space. The total volume of the project
is approximately 25,000 m(2), the first part of which should be completed in
2024. The completion of the whole project is expected in 2025. Both projects are
based on Hepsor's concept of green thinking for commercial real estate using
environmentally friendly innovative engineering solutions.
Anneli Simm
Head of Investor Relations
Phone: +372 5615 7170
e-mail: anneli@hepsor.ee
Hepsor AS (www.hepsor.ee) is one of the fastest growing residential and
commercial real estate developers in Estonia and Latvia. Over the last ten years
Hepsor has developed more than 1,300 homes and 15,000 m2 of commercial space.
Hepsor has been the first real estate developer in the Baltic States to
implement a number of innovative engineering solutions that make the buildings
we construct more energy-efficient and thus more environmentally friendly. The
company's portfolio is comprised of 26 development projects with a total
sellable space of 186,000 m(2).
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