SIA PN Project – the developer of the large-scale real estate development Preses Nama Kvartāls in Ķīpsala, Riga – held an investor webinar on May 15 to provide investors with an update on the project’s progress, development plans, and bond offering.
The recording of the webinar is available online in English and Lithuanian.
For more information about Preses Nama Kvartāls bond offering, please visit invest.presesnams.lv
About Preses Nama Kvartāls bond offering
AS PN Project, a subsidiary of Lords LB Special Fund V, launched a €30 million bond issue to finance the continued development of the Preses Nama Kvartāls project in Riga. The bonds offer a 9% annual yield with semi-annual coupon payments and a maturity date of June 4, 2027. The subscription period runs from May 12 to May 30, 2025. The funds raised will support the construction of the A-class office building, working capital, and refinancing of existing bonds. The bonds are secured by a mortgage on the entire 58,000 m² property, providing strong asset-backed security for investors.
About Preses Nama Kvartāls
The development of Preses Nama Kvartāls is carried out in several construction phases. The first phase includes a A-class office building, with work on the phase B — a multifunctional center — set to begin upon its completion. The next phases will feature a ten-story office building with a modern educational institution. Renovation works of the existing "Preses nams" building are also planned. The project developer is "Lords LB Asset Management", whose total assets under management reached 1,331 billion euros by the end of December 2024.