Objective of the loan
The entire project requires a loan of EUR 2,640,000, which is divided into stages. The loan funds will be used for construction and installation works of real estate objects located at Lubānas g. 133A, Riga, Latvia (three service buildings, outdoor engineering networks and facilities and other structures (parking lots, passages, walkways, fences)). It is planned to build three commercial buildings with a total area of 3,002 sq. m. The loan will be repaid by refinancing it in another financial institution or from the proceeds of the sale of the property.
The first 5 stages (EUR 477,000) have already been financed. Now the announcement of additional financing stages (totaling EUR 2,163,000) is underway. The Borrower, having received the construction permit and started work, revalued the object (asset valuation report dated 09/04/2025) and determined the current market value of the land plot - EUR 842,000 and the future market value of the property - EUR 4,400,000. Taking this into account, the Borrower applied for full project financing, which will amount to EUR 2,640,000, maintaining the same asset value to loan ratio (60%), which will be calculated based on the future asset value in accordance with paragraphs 5.32-5.33 of the Project Owners' Reliability Assessment Rules, i.e. by financing the completed works according to the established ratio, which are/will be formalized in the form of signed acts of completed works and invoices issued on their basis.
The loan funds of the first 5 stages were used for the acquisition of real estate, land plot Lubānas g. 133A, Riga, Latvia, for the design and obtaining of a building permit, for demolition of old buildings and preparation of the plot for construction, the funds of the 6th and subsequent stages will be used in stages for the full development of the project. The borrower plans to build three commercial buildings with a total area of 3,002 sq. m and rent them out. The loan will be repaid by refinancing it in another financial institution, when the borrower, having completed all construction and contracting works, will receive a final act of construction works and on its basis will register the 100% completion of the building in the real estate register.
About the project
The project - three service buildings intended for automated goods reception/issuance activities. The buildings are one-story with a mezzanine (~6m high). The buildings consist of rooms of different sizes, each of which has a separate entrance from the outside. The area can be accessed via the entrance from Lubānas Street. 55 parking spaces are installed along the long facades of the buildings. One place - for one goods reception - issue point. Main driveways, parking lots and sidewalks will be constructed of concrete pavers.
Three service buildings have been designed, two of which are built parallel to each other, the third - perpendicular. In the middle of the buildings, common building administration rooms are installed. The premises of the buildings are intended for small companies and individuals engaged in electronic commerce, for whom it is relevant to have small automated points of receipt/issuance of goods.
All buildings will consist of main rooms (receiving/issuing goods) with entrances from the outside and auxiliary rooms with separate entrances for servicing the building complex. Parking spaces are installed along all premises, at the entrances to them. All goods receiving/dispensing facilities will be managed through a mobile application. Each room is accessed directly from the outside through a door in the gate or a door next to the gate. The gate, with dimensions of 250cmx285cm, is designed to comfortably bring in larger items. Both buildings are one-story with tech. sites where a technological site is installed. In all rooms, it is possible to install WC facilities according to the needs of the users of the rooms. The buildings have technical premises for engineering inputs, administration of the complex, as well as a shared WC room adapted for people with disabilities.
The visual appearance of the building emphasizes its primary function, while the finishes and tones are chosen to harmonize with the surrounding buildings. The character of the building is achieved by rhythmic metal lamellas. They are designed in a brown tone with a wood texture, thus creating a friendlier dialogue with the neighboring buildings. The buildings are designed as a single fireproof section.
The gates and doors of the buildings are equipped with translucent materials through which light falls into the premises. The roofs of the buildings are gabled, water runs off the roof through gutters installed on the facade. At the edges of the facades, openwork, decorative elements made of metal tubular profiles are installed. Interior decoration of the walls - multi-layer panels (facade walls) and plasterboard partitions filled with cotton wool. The floor is concrete. Toilet facilities are provided as needed. Technological sites are equipped according to the needs of the tenants. The installation of a ladder or lift (up to 3t) is specified according to the need and technology.
More about the project (see Documents).