Bigbank Finances Capital Mill's New Development in Downtown Tallinn

Bigbank is financing the construction of a new development project by the owners of real estate company Capital Mill in central Tallinn on Luise Street with a loan of 3.6 million euros. Two buildings located just 600 meters away from Freedom Square and Toompea will be completed by the end of next year.

Two buildings are rising on the Luise Street 13 property in the acclaimed Kassisaba residential area. A residential building with 14 apartments is located on a quiet side street, away from street noise, while the commercial building will be on the Luise Street side of the property. Both buildings are four-story structures with ceilings reaching 2.8 meters in height.

"We are also contributing our part to preserving the character of the area – the buildings being constructed feature a distinctive wooden façade and interesting architecture. Future residents will be just 5 minutes away from the Old Town, Tõnismäe, or Kristiine by walking through the wooden buildings. Modern living is enhanced by an underground parking level for cars and bicycles, as well as storage spaces conveniently accessible by elevator," described Capital Mill's managing director Kaarel Loigu.

"The real estate market has undergone many changes over the past year, and against this backdrop, new projects by strong developers will certainly stand out even more, especially if they are exclusive and in good locations. We find suitable financing solutions for our clients even during times when economic activity is lower and the market is less active," confirmed Aimar Roosalu when commenting on the financing decision for Luise Street buildings.

The project is being carried out by Luise 13 OÜ, a company related to Capital Mill's owners, with the ownership structure divided between holding companies Certus Invest OÜ (50%) and Tandra OÜ (50%). The architectural solution for the building was developed by Architecture Bureau Apex OÜ, and the construction work is being handled by Grand Ehitus OÜ. The planned completion of construction work is November 2024.

Bigbank AS (www.bigbank.ee) is an Estonian capital-based bank focused on loans and deposits for private and business clients, which in addition to its operations in Estonia has branches in Finland, Sweden, Latvia, Lithuania, and Bulgaria, and also offers its products as a cross-border service in Austria, Germany, and the Netherlands. Bigbank's balance sheet total is approximately 2 billion euros, of which the commercial loan portfolio exceeds 560 million euros.

Read more about the project: https://luise13.ee/