With support of “OP Corporate Bank plc”, Eastnine has purchased an office building in the quiet centre of Riga

[13.05.2021]

The Latvia branch of “OP Corporate Bank plc” has granted a loan to Eastnine AB, real estate investment company listed on Nasdaq Stockholm stock exchange, subsidiary in Latvia for the purchase of an Class A office building in the quiet centre of Riga located at 1 Zaļā Street.

The building at 1 Zaļā Street was built in 1899 as an A.G. Rutenberg Tobacco Factory, but in 2009 it was completely reconstructed into a modern five-storey office building with two levels of underground parking. The building has received a LEED Platinum certificate, which recognises its high quality, energy efficiency, sustainability and provides a comfortable, healthy environment for the office tenants, as well as reduces building maintenance costs. LEED (Leadership in Energy and Environmental Design) is the world’s most commonly used system for assessing the sustainability of buildings, introduced in 1993 by the US Green Building Council.

Elmārs Prikšāns, General Manager at “OP Corporate Bank plc” Latvia branch, commented: “The energy efficiency and sustainability of buildings is an essential part of the expert-initiated steps to limit the negative effects of climate change. We are pleased to support this deal, which is a reminder of the importance of taking care of urban development by combining human well-being with an improved environment. It offers invaluable benefits not only now, but also in the long run.”

Kestutis Sasnauskas, CEO of Eastnine AB, acknowledged: “We are very pleased with “OP Corporate Bank plc” assistance in financing the acquisition of Zala 1 in Riga and look forward to a long-term relationship.”

The Latvian branch of “OP Corporate Bank plc” has been operating since 2012, and during this time has gained a significant role in the long-term development of Latvia and the whole region. OP Corporate Bank plc. is the central bank of OP Financial Group, Finland's largest financial services group. The international credit rating agencies have rated OP Group as a stable and strong financial organisation, by respectively assigning the highest ratings to the long-term liabilities. Corporate social responsibility is an integral part of the “OP Corporate Bank plc” business and strategy, and it involves also ESG or Environmental, Social, Governance factors, guiding society towards a sustainable economy.