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.
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