The Estonian real estate developer Capital Mill will soon develop nine exclusive apartment buildings in the centre of Mežaparks, near Lake Ķīšezers. The buildings will be located at R. Feldmaņa Street 2 and Brēmenes Street 1A. Their construction is due to begin in the spring of this year and will be completed in the summer of 2019. Over EUR 13 million will be invested in the realisation of the project.
“At present, we have observed that the real estate market is developing throughout the Baltics, and that demand for a new residential fund is continually growing. In Latvia, there is unquestionably a shortage in the exclusive apartment offering. Therefore, we will develop a new apartment buildings in Mežaparks, which we hope to complete by the summer of next year. We are confident that this will appeal to families who will appreciate Mežaparks’ scenery and a peaceful and quality living environment only a few kilometres away from Riga city center. The major advantage of this project is its competitive price, which will be significantly below the average price in the exclusive apartment segment,” explains Ahti Kiili, spokesperson for the real estate management company Capital Mill.
The project entails the construction of nine new apartment buildings spanning over 7 118 square metres. 93 exclusive apartments ranging from 44,8 to 168,8 square metres in size will be available in each of the buildings. The apartments will be offered with full interior furnishing. It is planned that the reservation of apartments will commence in the summer of 2018.
The project is being designed by the acclaimed architecture firm 8.A.M, whose most recent accomplishment is the Exupery International School in Piņķi. In designing the buildings, special attention has been paid to energy efficiency, as well as functional design. The project’s construction partner will be chosen in the near future.
Par Capital Mill:
Capital Mill OÜ was founded in early 2008 to help investors looking to acquire commercial real estate in Baltic countries and generate value through high-quality property management services. The founders and partners of the company comprise a team with long-standing real estate and banking experience. Over the company’s years in operation, several investments have been placed, worth approximately 300 million euros. At present, the company’s investment portfolio consists of business premises, shopping centres and manufacturing and warehouse buildings. Investments have been placed pan-Baltic – in Estonia, Latvia and Lithuania. The investment portfolio managed by Capital Mill OÜ has seen rapid growth over the years – growth that is expected to continue in the years ahead.
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