WALLESS Advised Capitalica Baltic Real Estate Fund I On Issuing Bonds Worth EUR 3 Million

WALLESS advised Capitalica Baltic Real Estate Fund I during the issue of EUR 3 million bonds that were successfully placed during May 2019. WALLESS Associate Partner Laurynas Narvydas assisted the issuer with structuring of the transaction and advised on the applicable regulatory requirements and restrictions.

The issue of bonds is aimed at raising capital for the development of two A-class office buildings in the center of the Latvian capital city Riga.

More than 70 different investors acquired bonds during the first stage of the process. The total investment in the prestigious business centers is planned to go above 60 million euros. The centers,  expected to open in 2021, together with underground garages will take up an area of 50 000 m2.