Market announcement
Hepsor AS
LEI code
254900NNCQC3L9WR9P45
Size of the entity
Medium group
Economic activities
Professional, Scientific and Technical Activities
Industry sector(s)
Alternative Investment Fund Manager
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
10603
Submission date and time
20.09.2023 07:00:00
Content of announcement in Estonian
Title
Hepsori Kanada tütarettevõte tegi oma teise investeeringu Kanada kinnisvaraturule
Message
Hepsori Kanadas, Ontario provintsis, registreeritud tütarettevõte Hepsor SPV I Ltd tegi oma teise investeeringu Kanada kinnisvaraturule. Koos Kanada partneritega osteti 3 kõrvutiasuvat elukondlikuks arenduseks sobivat kinnistut Toronto kesklinnas, aadressil 164 - 168 Isabella street. Kinnistu arendamiseks asutati ettevõte Elysium Isabella Limited Partnership, milles lisaks Hepsorile ja tema Kanada koostööpartneritele osalevad veel ka erinevad Kanada ja Euroopa investorid. Tehingu struktureerimisel nõustas Hepsorit Kanada üks suuremaid advokaadibüroosid Fasken (www.fasken.com). Soetatud arendusprojekti esimese faasi eesmärgiks on kolme kinnistu liitmine ja tekkinud uuele kinnistule elukondliku kõrghoone planeerimine ehitusmahus ca 42 000 m2. Maa väärtustamise faas võtab eelduslikult aega 2-2,5 aastat, misjärel Elysium Isabella Limited Partnership otsustab, kas saavutatud ehitusõigus realiseeritakse läbi kinnistu edasimüügi või liigutakse projektiga edasi ehitusfaasi. Projekti esimese faasi investeeringute mahu suuruseks on kokku ca 41 miljonit eurot, millest Elysium Isabella Limited Partnership investeerib omavahenditena ca 5,5 miljonit eurot. James Torpey, kes on üks Hepsori partnereid Elysiumis ning Kanada-Leedu kinnisvaraarenduse ettevõtte VPH Groupi omanik, ütles: "Toronto on üks kõige kiiremini arenevaid linnasid Põhja-Ameerikas. Toronto elanike arv kasvab jõudsalt ning et kasvuga sammu pidada, vajab linn hädasti uusi kvaliteetseid elamispindu. Meie, koos Hepsori ning ülejäänud investoritega usume, et elukondlikuks kinnisvara arenduseks sobiva maa arendamine Torontos on väga perspektiivikas ettevõtmine". Hepsor AS-i nõukogu esimees Andres Pärloja ütles: "Hepsor alustas oma Kanada ärisuuna arendamisega 2022. aasta kevadel pärast Ukraina sõja algust eesmärgiga leida uusi kasvuvõimalusi ning hajutada praeguste koduturgudega seotud geopoliitilisi riske. Aasta ajaga on Kanadas ülesehitatud äri alustamiseks vajalik koostöövõrgustik alates juriidilistest- ja finantsnõustajatest ning lõpetades pankade, turuanalüüsi- ning maaklerettevõtetega. Lisaks Isabella projektile ja käesoleva aasta juunikuus omandatud Weston Road'i projektile on Kanadas hetkel ettevalmistamisel sisenemine veel kahte sarnasesse arendusprojekti Torontos ja Toronto eeslinnades." Henri Laks Juhatuse liige Telefon: +372 5693 9114 e-post: [email protected] (mailto:[email protected]) Hepsor AS (www.hepsor.ee (http://www.hepsor.ee/)) on üks kiiremini kasvavaid elu- ja ärikondliku kinnisvara arendajaid Eestis ja Lätis, kes tegutseb alates 2023. aastast ka Kanada kinnisvaraturul. Kaheteistkümne tegutsemisaasta jooksul oleme loonud üle 1600 kodu ja ligi 36 000 m(2) äripindasid. Hepsor on esimese arendajana Balti riikides rakendanud mitmeid uuenduslikke insenertehnilisi lahendusi, mis muudavad ettevõtte rajatavad hooned energiasäästlikumaks ja seeläbi keskkonnasõbralikumaks. Ettevõtte portfellis on kokku 25 arendusprojekti kogupindalaga 199 500 m(2).
Content of announcement in English
Title
Hepsor's Canadian subsidiary made its second investment in the Canadian real estate market.
Message
Hepsor SPV I Ltd, a Ontario-based subsidiary of Hepsor AS, made its second investment in the Canadian real estate market. An assembly of 3 properties was acquired in downtown Toronto at 164-168 Isabella Street together with Canadian partners. Elysium Isbella Limited Partnership was founded in order to develop the property in which, in addition to Hepsor and its Canadian partners, various Canadian and European investors also participate. Fasken (www.fasken.com), one of Canada's largest law firms, advised Hepsor on structuring the deal. The goal of the first phase of the acquired development project is to assemble the 3 properties and apply and achieve zoning approvals to permit a residential hi-rise tower on a podium, with a projected Gross Floor Area of ca 42 000 sq meters (450,000 sq. ft). The assembly and zoning is expected to take 2-2.5 years, after which the Elysium Isabella Limited Partnership will be able to decide whether the additional value created by that point will be realized through the resale of the property or whether the project will move on to the construction phase. The total value of the land and project costs is ca 41 million euros, of which Elysium Isabella Limited Partnership will invest ca 5,5 million euros as own funds. James Torpey, one of Hepsor's partners in Elysium and the owner of Canadian- Lithuanian development group VPH Group, said: "Toronto is one of the fastest growing cities in North America. The City is in desperate need of new quality living-space in order to keep up with growing population. We, together with Hepsor and our investors strongly believe that developing a residential land in Toronto is a very attractive business to be in." Andres Pärloja, Chairman of the Supervisory Board of Hepsor AS, said: "Hepsor started developing its Canadian business in the spring of 2022 after the start of the war in Ukraine with the aim of finding new growth opportunities and mitigating the geopolitical risks associated with the current home markets. Within a year, local network of legal- and financial advisors, banks, market analysts and brokerage companies has been built to support Hepsor's ambitions in Canada. In addition to the Isabella project and Weston Road project (acquired in June this year), two additional developments of a similar nature in Toronto and greater Toronto area are currently under preparation." Henri Laks Member of the Management Board Phone: +372 5693 9114 e-mail: [email protected] (mailto:[email protected]) Hepsor AS (www.hepsor.ee) is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia, which is also present on the Canadian real estate market since 2023. Over the last twelve years Hepsor has developed more than 1,600 homes and ca 36,000 m(2) 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 25 development projects with a total sellable space of 199,500 m(2).