Rietumu Bank grants EUR 19 million financing for the development of VERDE

Ellex in Latvia advised the developer of the VERDE business quarter on the signing of a €19 million loan facility with Rietumu Bank to finance the construction of the new C building. 

The financing enables the next phase of growth for one of Riga’s fastest-developing office complexes. VERDE currently operates its A and B buildings, offering 45,000 m² of office space, while the upcoming C and D buildings will add an additional 37,000 m², including 22,500 m² of Class A leasable office space and more than 2,500 new workplaces. 

The construction of the C building is expected to be completed in Q2 2027, with total project investment reaching approximately 150 million euro. The development of VERDE is being implemented in line with the highest sustainability standards, including BREEAM Outstanding requirements. 

Ellex Klavins team was represented by partner Ivars Pommers and associate partner Zane Veidemane-Bērziņa.