Estateguru, the pan-European property investing and financing platform, has announced that it has funded over €500 million in loans in the Baltics. Of this amount, €344 million has been successfully repaid, and the outstanding portfolio is €159 million. The breakdown of historical loans by country is as follows: Estonia €288 million, Lithuania €126 million, and Latvia €88 million.
Commenting on the achievement, Mihkel Stamm, CEO of Estateguru, said, “The Baltic states are our most long-established and important markets. Our business model plays an essential role in financing real estate developers in the Baltics, where bank financing is particularly conservative. We have also established fruitful working relationships with several banks, and created a high-performance funding ecosystem alongside them. We pioneered this business nine years ago and have accumulated a wealth of experience in the financing process. We continue to see opportunities to grow our financing volumes in the Baltics, as these are markets with huge potential for economic growth. Reaching this significant milestone is the perfect start to 2023 and sets the tone for the year ahead.”
Founded in Tallinn, Estonia, in 2013, Estateguru officially funded its very first loan in January 2014. Since then, the company has opened offices in Latvia and Lithuania, and become a leading player in the property financing market.
One of Estateguru’s largest projects in Estonia is the renovation of the 100-year-old Klausson Candy Factory, which is being transformed into contemporary living spaces with spacious loft-type apartments, by Estonia’s leading real estate developer, Endover. The volume of capital invested in this project is up to €6.4 million.
“We consider different financing options for every development project,” Robert Laud, CEO of Endover explained. “For the Klausson Candy Factory we opted for the speed and flexibility of crowdfunding, and partnered with Estateguru.”
In Lithuania, Estateguru provided financing for the Sandeka factory, with a total volume of around €5 million. This was the largest loan issued and successfully repaid by a crowdfunding platform in Lithuania’s history.
