Swedbank Grants €6 Million Loan for NORDO Industrial Building Redevelopment

NORDO has launched a major reconstruction of its industrial building at Noliktavu Street 7, Dreiliņi, with Swedbank providing €6 million in financing for the project. The initiative will completely modernize a 16,000 m² building, adapting it to meet contemporary warehouse and production needs while ensuring high energy efficiency and technical standards.

The financing agreement was signed with Swedbank Latvia, which recognizes the project’s potential for sustainable business development and its added value to the industrial real estate sector.

“Projects like this promote not only commercially attractive spaces for businesses but also a sustainable and energy-efficient environment for entrepreneurship. We see that the NORDO project in Dreiliņi significantly expands the offering of high-quality industrial spaces near Riga, and we are pleased to be the financial partner for this step in development,” says Jevgenijs Ivanovs, Member of the Board and Head of Corporate Banking at Swedbank.

A construction contract has also been signed with the construction company SIA EKOTEH BŪVE, which will carry out the reconstruction works in line with the planned schedule and technical requirements. Construction supervision is provided by SIA “Forma 2,” which highlights the high level of project preparedness and the well-thought-out combination of solutions.

“The project has been carefully developed with a clear focus on sustainability, functionality, and technical precision, maximizing the use of existing structural elements. During construction, particular attention is paid to both building and engineering system solutions, as well as to ensuring the adaptability of the facility to future tenant needs,” comments Edgars Krasņikovs, representative of the construction supervision company.

After reconstruction, the building will achieve A-class energy efficiency and will feature modernized infrastructure, including the potential to install overhead cranes, access for heavy transport, spacious parking, and public transport accessibility. The project is an integral part of the NORDO industrial park development in Dreiliņi.

“This project is a significant demonstration that a high-quality and functional industrial environment can be created while maintaining a balance between modern technology and a sustainable approach to construction,” emphasizes Oskars Petrovs, Chairman of the Board at SIA EKOTEH BŪVE.

The NORDO logistics park is part of the real estate portfolio of SG Capital Partners Fund 1 KS. SG Capital Partners Fund 1 KS is a commercial real estate fund registered in Latvia and managed by SG Capital Partners AIFP, an alternative investment fund manager licensed by the Financial and Capital Market Commission. The total assets under management of the fund exceed €140 million.

Article: https://www.db.lv/zinas/swedbank-pieskir-6-miljonu-eiro-aizdevumu-nordo-industrialas-ekas-parbuves-finansesanai-522467