The real estate investor “Baltic RE Group” has attracted a loan of EUR 10 500 000 from BluOr Bank. The funding received will be used for thoughtful refinancing of existing long-term credit lines, as well as financing the reconstruction of two real estate poperties in Riga – investments will be made in the future “IL Giardino” office complex at Citadeles 9a, and as well as the historic six-storey buildings at Kr. Barona Street 2 for its renovation.

The company plan is to complete renovations and site improvements at the Citadeles 9a office complex near Kronvalds Park in the next few months. The three-storey building at the heart of the city, on the edge of the Riga Channel, will offer widely functional office spaces in an area of 1 600 m2 and will be surrounded by a garden with more than 100 flowering fruit trees.

At the moment renovation works in collaboration with an Italian architect Adriano Castiglioni are happening in historical six-storey building on Kr. Barona Street 2 designed by architect John Fridrich Bauman and built in 1881. The renovation of the House follows both historic heritage conservation guidelines and environmental sustainability principles. After implementation of the project, high-quality commercial premises in the building will be available in an area of more than 4000 m2.

“Baltic RE Group” is an experienced real estate investor and manager specialising in the acquisition and renovation of historic real estate. The company’s operating model envisages the purchase of historic buildings on other strategically important points, and quality renovation works of these buildings, then the renting and management of premises. Commercial properties belonging to the group are high-end rental properties – both commercial and office spaces with excellent location, functional planning, high-quality finishing and innovative energy efficiency solutions.

As shown by the results of the company’s activities and the data collected, the most important issues for tenants in the commercial premises segment are not only the functionality and price of the premises, but also the energy efficiency and sustainability indicators of the building. Thus, all the group’s current projects are on the way to obtaining internationally recognized green certificates and all buildings managed by “Baltic RE Group” currently only renewable energy is used.