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NP Properties has taken the loan to refinance its liabilities and shareholders' investments, to expand the production and storage premises of the NP business park in Jelagava and finance other development projects.

"Nordic Partners Group already had previous positive cooperation experience with SEB Banka. Considering also SEB Banka's significant experience and expertise in financing commercial property transactions, we agreed on cooperation in the further development of NP Properties' existing industrial parks. NP Properties plans to continue developing new commercial properties, so we expect SEB Banka to be one business partners also in the future, which would promote and facilitate the development of new projects," said NP Properties board chairperson Elita Moiseja.

"NP Properties is Latvia's leading developer of industrial parks. We see good potential for this business, and we already have successful cooperation experience. These are the three most important reasons why we believe that this deal will not only enable the company to achieve the planned growth results, but will also become a good platform for expanding our cooperation," said SEB Banka board member Ints Krasts.

The NP business park in Jelgava is one of the largest reconstructed industrial parks in Latvia. Its total size is 23 hectares and its commercial space is more than 70,000 square meters large.

Nordic Partners Properties is a company of the Nordic Partners Group, the largest developer and manager of industrial parks in Latvia. The group currently manages eight industrial parks in Riga, Olaine, Jelgava, Salaspils, Rezekne and Daugavpils. Their total size is 150 hectares and their total commercial space exceeds 490,000 square meters.

In 2015, NP Properties generated EUR 743,968 in turnover and suffered a loss of EUR 76,939, according to information from Firmas.lv.