ABLV Bank financed the purchase of an office block in Riga in the amount of 8.1 million EUR

Riga, Latvia, September 11, 2014, 09:18 / Banking

Using our bank’s financing in the amount of 8.1 million EUR, the LNK Group of enterprises purchased an office block at 15 Daliņa street, having paid more than 10.5 million EUR in total.

Among ABLV Bank credit policy priorities there are granting loans to high-quality commercial properties and support to property developers. The bank’s capital allows granting one lender a loan in the amount up to 50 million EUR. Examining loan applications, we pay particular attention to investor’s experience, quality of property and market situation.

Antons Marčenko, the Head of ABLV Bank Project Financing Department says: “With the purchase of this office block at 15 Daliņa street, from the very beginning we were ready to grant a loan and we prepared a loan offer to the investors who showed interest before having received the buyer’s confirmation. Keeping in mind that the buyer is the LNK Group, an experienced and professional developer and manager of commercial properties in Latvia, and a part of this building will be used for the needs of the group, we could have made an offer with individually tailored conditions of financing”.

The office block was named “LNK Centre”. One part of the building will be used by the buyer and around 5000 sq.m. after small reconstruction will be rented out.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296