Bigbank Finances Construction of Luxury 12-Apartment Building Next to Pirita Yacht Club

Bigbank finances the construction of a luxury 12-apartment building next to Pirita Yacht Club

Bigbank signed a 2.9 million euro loan agreement with Simus Real Estate Development to finance the construction of a luxury two-story apartment building in Tallinn, Pirita, on Masti Street next to the yacht club. Construction of Masti 11 building began in July and is scheduled to be completed in the summer of 2024.

According to Rene Salumäe, a member of the Simus Real Estate Development board, they plan to build an exclusive apartment building next to the yacht club where one can live in the heart of Pirita like in a private mansion. "Both Pirita Yacht Club and Masti Building are exclusive objects. The new clubhouse being built on the yacht club premises and the new residential building rising next to it will add an additional dimension to an area that has remained uniform for a long time, and Pirita will become an even better environment for living and spending free time," he noted.

"Simus Real Estate Development is Bigbank's long-term cooperation partner and they are extremely capable people who execute their projects with careful consideration, adapting their developed objects to the environment while offering their clients high standards," commented Aimar Roosalu, head of Bigbank's corporate banking unit, on the financing decision. "For Bigbank, this project nicely combines Estonian capital, quality, smart decisions, environmental fit and a connection to the sea," he added.

The approximately 2,060 m² residential building being built at Masti 11 next to Pirita Yacht Club will be constructed by Grand Ehitus OÜ. It will be an A-energy class building with only 12 thoughtfully designed homes. The apartments spanning two floors are spacious 3-5 room units with high ceilings, bathrooms connected to bedrooms and walk-in wardrobes. Most apartments have large outdoor terraces, some have French balconies or verandas. The building architect is Ilmar Heinsoo and the interior architect is Kristiine Kangur.