Spain

Evernord and Novira Capital disembark on the Costa del Sol

Evernord and Novira Capital disembark on the Costa del Sol

Lithuanian fund Evernord and Estonian fund Novira Capital have teamed up to co-finance and develop their first project on the Costa del Sol. This consists of the construction of six luxury homes in the area of Cascada de Camaján, Marbella, with an estimated investment of €34 million upon completion.

BGI LAW has provided legal and tax advice and will continue to accompany the development of the project until its completion. 

The attraction of Marbella and the Costa del Sol has grown considerably in Northern Europe, especially in the Baltic countries, which in recent years have shown a strong interest in the area's real estate sector. According to Jolanta Jurga, founder and board member of Evernord, after conducting a market study, they concluded that the demand for housing in the premium segment is very high and is expected to remain so regardless of the economic cycle. After evaluating several opportunities, they decided that this investment was a good option for the geographic diversification of their portfolio.

For the president of BGI LAW, Julio Aguado, "this new investment confirms the continued interest that the Costa del Sol awakens in large international funds". He also pointed out that this interest has been extended to funds from the Baltic countries, which for the first time have invested in the region's real estate sector.

Evernord, established in 2014, is an investment banking and wealth management company operating in Lithuania, Latvia and Estonia. Its strategy is based on partnerships with investors to participate in the best projects. Evernord currently manages more than €250 million in client assets, serving corporations, financial institutions and private investors.

Novira Capital, on the other hand, is an international equity firm specialising in the development of large-scale real estate projects. Its portfolio includes projects in Tallinn, Pärnu, Riga and now also in Marbella. In addition to financing its own projects, Novira Capital participates in real estate projects, either directly or through equity participation.

The marketing of the project and the brokerage of the villas will be carried out under an exclusive agreement with Solvilla.

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