Luminor Bank issued a long-term loan of €10.4 million to Sirin Development, a Latvian real estate developer, of Class A Rumbula Industrial Park in Riga, LETA, a Latvian newswire, reported on November 28.
The project was implemented in several stages, and the fourth warehouse complex with an area of 28,000 square meters has now been commissioned and fully leased.
Sirin Development is one of the largest real estate developers in the Baltics, having developed more than 600,000 square meters of real estate over 15 years and currently managing 324,00 square meters of real estate in Latvia and Lithuania.
Sirin Development is one of the largest logistics real estate developers in the Baltics. According to Property EU, the company is one of the top 20 logistics real estate developers in Europe. The company has developed more than 600,000 square meters of property in 15 years of operation and currently manages 324,000 square meters of logistics real estate in Lithuania and Latvia.
The Latvian branch of Luminor Bank is the fourth largest bank in Latvia by assets. The bank is controlled by US investment company Blackstone, LETA said.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Eurozone manufacturing growth hits four-year high in April but Middle East war drives record price surge
Eurozone manufacturing activity expanded at the fastest pace in nearly four years in April as factories rushed to build safety stocks ahead of expected price rises and supply shortages linked to the ... more
Taiwan honours visiting Lithuanian MP
Taiwan’s Foreign Minister Lin Chia-lung has awarded the “Goodwill Diplomacy Medal” to Dovilė Šakalienė, a member of Lithuania’s parliament and former defence minister, in recognition of ... more
Russian GRU parcel bomb plot traced to Estonia
Estonian authorities are considering whether to extradite two residents accused of helping Russian military intelligence (GRU) operatives send parcel bombs that nearly caused major air disasters ... more