Liven raised 2 million euros
Ellex Partner in Estonia Ermo Kosk and Counsel Toomas Kasesalu advised real estate development company Liven on the issuance of bonds in the amount of 2 million euros.
Liven Kodu 17 OÜ, a subsidiary of Liven AS, issued 20 mortgage-backed bonds with a nominal value of 100,000 euros in a total amount of 2 million euros with a redemption date of 31.03.2023 through a non-public offer. The proceeds from the issue will be used to finance the project of Juhkentali 48, a new residential and commercial building in Tallinn.
According to Andero Laur, CEO of Liven AS, the proceeds from the issue will be used for the construction of a new residential and commercial building near Tallinn Bus Station. “This property is located in a rapidly developing area, the value of which is shaped by the planned major development on Sossi Hill as well as the large-scale project of Tallinn Central Market,” Laur explained.
According to Laur, today’s home buyer appreciates the downtown and the nearby locations: “In the Juhkentali area, there are important and decision-making factors in choosing a home: schools, sports facilities and various leisure opportunities. The city center is also just a short walk away.” The new commercial and residential building will be completed by the end of 2023.
Liven is has operated as a residential real estate developer since 2014. Around 400 homes have been created during this time.