Despite seasonally lower demand before the holiday period, the successful EUR 2.9 million raise highlights the bonds’ appeal and investors' trust. The bonds trade on Nasdaq Baltic and are secured by the EUR 46.5 million mortgage on Preses Nama Kvartāls property.
Since the launch of the new bond program, PN Project has raised approximately EUR 45.9 million, representing around 77% of the planned bond financing for the Preses Nama Kvartāls office building.
About Preses Nama Kvartāls
The development of Preses Nama Kvartāls is carried out in several construction phases. The first phase includes A-class office building. The concept of further development of landplot includes a medical or educational center, hotel or residential building, an office building and other facilities. Renovation works of the existing Preses nams building are also planned. The project developer is Lords LB Asset Management, whose total assets under management reached 1,331 billion euros by the end of December 2024.