The Bonava group, which also operates in Latvia, conducted its first investment transaction in the Baltic countries. In Tallinn the developer sold to the investor - the fund Lumi Capital - the future new multi-storey building with 84 apartments, whose construction should be completed in 2021. The buyer is the fund Lumi Capital, specializing in the rental of apartments. The deal cost him less than 7 million euros. According to the agreement between the parties, one of the new buildings being built in the framework of the Tallinn Uus-Mustamae project, designed for 750 apartments, will become the property of the Lumi Capital.
This kind of business practice for Bonava, what operates in Northern Europe and Germany, gets up to 35% of the company's business in these countries. There are no such examples in Latvia yet. This year, Bonava Latvija will build 705 apartments in seven projects. By the end of the year 475 of them will be commissioned.