Real estate developer Endover’s subsidiary POS11 OÜ has redeemed €14 million worth of bonds ahead of schedule. The bonds were issued to finance the construction of the Volta Residences project.
According to Endover’s CFO Kadri Koplimäe, the construction and sales of Volta Residences have progressed successfully, making it possible to repay investors the full amount of bonds issued during the project’s initial phase.
“Bonds are an important financing instrument in Endover’s projects, enabling us to offer investors an attractive return when financing the construction of development projects. We are grateful to all POS11 investors who placed their trust in us. We look forward to welcoming all investors to participate in the financing rounds of Endover’s upcoming projects,” said Koplimäe.
During the POS11 OÜ bond issuance in 2025, 14,000 bonds with a face value of €1,000 each were issued to finance the construction of Volta Residences, totalling €14 million. The bonds were subscribed by investors from all three Baltic states. The two-year bonds carried an interest rate of 11%. The POS11 bond offering was characterised by a clear structure — the issuance was tied to a single specific development project and secured by a first-ranking mortgage on the project’s property. Endover applies the same first-ranking mortgage security across all of its project company bond issuances, clearly delineating the risks for investors to a specific development asset. The issuance was arranged by Redgate Capital.
“Endover’s strong brand, a development project backed by extensive experience, and a transparent bond structure ensured the success of this offering. Real estate-related investments consistently attract the attention of local investors; in this case, it was particularly pleasing to see a significant share of professional investors,” said Redgate Capital partner Valeria Kiisk.
Volta Residences comprises a total of 18 buildings, of which 15 are complete. The bond-issuing project company POS11 OÜ encompasses 3 A-energy-class buildings with underground parking at Uus-Volta 6, featuring a total of 63 completed apartments.
Volta Quarter has been Tallinn’s best-selling new development for 3 consecutive years. Endover is developing the industrial quarter — which has a history of more than 125 years — according to the 15-minute city concept. The total development volume of the quarter is 142,000 m², with over 750 apartments and more than 50,000 m² of commercial space planned, along with a kindergarten and a park with recreational areas. Construction has also begun on the duo Volta SKAI twin towers — unique high-rise buildings in the area.
