SEB in Latvia and E.L.L. Real Estate signed loan agreement for 40 million euros

SEB in Latvia and leading real estate development and management company E.L.L. Real Estate signed one of the most significant real estate loan agreements in the Baltics during last years in amount of 40 million euros. E.L.L. Real Estate uses the loan to refinance existing loan and to fund the future development projects in the Baltics. The loan agreement was signed for 5 years.

E.L.L. Real Estate CFO Taavi Ojala: „The support of SEB enables us to refinance our existing loan and ensures also very good financing conditions for our existing projects and future development projects in the Baltics. We are continuously working on our future development projects and it is good to have SEB as our partner in financing.”

Head of Commercial Real estate at SEB in Latvia Viktors Bolbats: “40 million euro is very significant lending transaction taking into account current commercial real estate market. SEB is delighted to expand our cooperation with E.L.L. Real Estate Group with this remarkable transaction, which was possible due professional and competent operation of E.L.L. Real Estate.”

About E.L.L. Real Estate

E.L.L. Real Estate Ltd, is leading real estate development company in the Baltic countries. E.L.L. Real Estate develops, manages and operates different shopping centres, hotels, business and office buildings as well as warehouse and production buildings. E.L.L. Real Estate has holdings in five leading Baltic shopping centres. In Tallinn, E.L.L. Real Estate is a shareholder in Viru Centre, in Riga, E.L.L. Real Estate owns the Spice and Spice Home shopping centres and in Lithuania the investment portfolio consists of the Panorama shopping centre in Vilnius and the Saules Miestas shopping centre in Šiauliai. Read more about E.L.L. Real Estate at www.ell-realestate.com.