LNK Properties to Launch Major Project in Downtown Riga with Financing from BluOr Bank

June 16, 2024

BluOr Bank has greenlit a €17 million loan for real estate developer LNK Properties to construct the "Heart of Hanza" residential complex.

"Heart of Hanza" is a multi-unit residential project located at 3b Hanzas Street, situated between Riga’s Quiet Center and the business district of Skanste. The complex will feature 127 apartments ranging from 49 to 350 square meters, with spacious and sunny terraces on the 6th and 7th floors. The ground floors will include 3 office spaces totaling 354 m² and 4 commercial spaces totaling 1,643 m².

“Our 'Heart of Hanza' project is designed with young professionals and families in mind, offering everything they need within walking distance. Business centers, educational institutions, Riga’s finest restaurants, cultural venues, entertainment spots, sports facilities, and recreational areas are all just steps away. The biggest advantage of the complex is the enclosed courtyard, free of cars, featuring a private garden, children’s playgrounds, relaxation areas, and a designated spot for pets to play, train, and get their paws washed. The ground floor will house shops and cafes – visiting an elegant bakery can become a beloved ritual for both residents and visitors, where everyone can enjoy freshly brewed coffee and freshly baked pastries,” said Alexandra Strode, a board member of LNK Properties.

The building is designed to meet A-class energy efficiency standards, achieved through the selection of equipment and materials, technical solutions, and construction quality. All apartments will have heating control functions and an individual ventilation system with a heat recovery unit. The facade along Hanzas Street will be illuminated, the sidewalks will be improved, and a lively shopping alley will create a safe and organized environment for residents and visitors from early morning until late evening.
The building is scheduled to be completed by early 2026, with a total investment of €35 million.

About LNK Properties
LNK Properties is a seasoned developer with over 30 years of experience in constructing offices, business centers, residential buildings, and private communities in Latvia.