The bonds are subject to quarterly interest payments of 8% per annum and are secured by a tier 1 mortgage held by the law firm TRINITI, which is providing the service of security agent.
According to Andero Lauri, CEO of Liven AS, the proceeds from the issue will be used in the immediate vicinity of the Tallinn Bus Station for the construction of a new residential and commercial building. ‘This property is located in a rapidly developing area, the value of which is shaped by the major development planned for Sossi Hill as well as the large-scale project involving Tallinn’s Central Market (Keskturg)’, Laur explained. ‘This is one of the city’s most important streets, which connects the City Centre with the rapidly developing Ülemiste City business district and the Ülemiste transport hub’, the CEO added.
According to Andero Lauri, today’s home buyer in particular appreciates the City Centre and the surrounding urban regions: ‘In the Juhkentali subdistrict, there are important and decision-shaping factors when it comes to choosing a home: schools, sports facilities and various leisure opportunities. Downtown is also located within walking distance’.
The new commercial and residential building will be completed by the end of 2023.
Liven has been operating as a residential real estate developer for 7 years, during which time nearly 500 homes have been built. Today, about 1500 apartments are being prepared and currently in different stages of development.