Hepsor SOF O\u00dc, a joint venture of Hepsor AS and EfTEN Special Opportunities Fund, and Coop Pank AS signed a loan agreement on 1 July in the amount of EUR 12.7 million to finance the construction of three new residential buildings in the Paev\u00e4lja quarter in Lasnam\u00e4e.<\/p>\n\n\n\n
On 4 June, Hepsor SOF O\u00dc entered into a construction agreement with Mitt & Perlebach O\u00dc in the amount of EUR 10.2 million for the construction of the Paev\u00e4lja 7 apartment buildings and the supporting infrastructure, including roads, paved areas and utility networks. As a continuation of this, on 2 July Hepsor SOF O\u00dc also signed an agreement with Mitt & Perlebach O\u00dc for the construction of the Paev\u00e4lja 9 apartment building, together with its associated roads and utility networks. The value of the agreement is EUR 2.5 million. Value added tax will be added to both contract amounts.<\/p>\n\n\n\n
A total of 88 new homes will be completed at Paev\u00e4lja 7 and 9 in autumn 2027. Before the start of construction, 20 homes, or approximately 23% of the total volume, had already been sold under contracts under the law of obligations.<\/p>\n\n\n\n
The Paev\u00e4lja 9 building will be constructed on historic limestone walls, creating a new and modern interior with contemporary spatial solutions. The building will comprise 18 homes, including two-storey apartments that provide a greater sense of spaciousness and the feel of a private house. The homes will vary in size from one- to five-room apartments and offer a wide variety of layouts.<\/p>\n\n\n\n
The A energy class building will be equipped with solar panels, district heating, hydronic underfloor heating, apartment-specific heat recovery ventilation with individual controls, and readiness for cooling. The apartments will have triple-glazed wooden windows and remotely readable utility meters.<\/p>\n\n\n\n
The Paev\u00e4lja quarter is being developed in stages. In the first stage, nearly 100 apartments were completed in the Paev\u00e4lja Hoovimajad development at the end of 2022 and the beginning of 2023. The second stage will be completed in the second half of 2027. In cooperation with EfTEN, Hepsor also plans to continue with the third and fourth stages, adding approximately 100 and 80 apartments. The architectural competition for the buildings to be developed at Narva Road 150 and 150A concluded in May, and the design process has already commenced.<\/p>\n\n\n\n
Including the already completed Paev\u00e4lja Hoovimajad, Hepsor is developing a total of 470 homes and 4200 square metres of leasable commercial space in the Paev\u00e4lja quarter.<\/p>\n\n\n\n