In associationwith
Bond issuance
A new double high-rise landmark on the capital’s skyline
Volta SKAI is a new twin tower in Tallinn’s Volta Quarter – a unique opportunity to invest in a rapidly developing area. Secured bonds, stable returns, and an experienced developer offer a well-considered opportunity for long-term investment.
View the detailed investor presentation for comprehensive information on terms, financials, and project details to support your informed investment decision.
Download Investor PDF
max bond program volume
€30 m
Coupon rate
10%
per annum
Maximum LTC ratio
80% LTC
security type
Senior secured notes
1st rank mortgage backed
Constant monitoring and control of the total loans ratio to collateral value by independent Escrow agent.
Premium & unique product
Unmatched views and exclusivity ensure pricing power and value.
Experienced developer
Endover has delivered 75 completed projects and 310,000 m² of developed space over 25 years.
Prime location
Situated in Tallinn’s “golden mile” alongside Noblessner and Krulli — the city’s fastest-growing residential and tech hub with direct sea access.
Proven demand
Volta Quarter ranked as Tallinn’s #1 new development by sales volume and turnover in 2023–2024 (Citify).
Clear exit strategy
Bond repayment secured by sales revenues and refinancing. Commercial bank refinancing at 50–55% LTV upon completion.
Issue amount
Up to €30 m / 1st Tranche €8 m
Coupon rate
10% (fixed) per annum
Minimum investment
€100,000
Coupon payments
Quarterly
Maturity date
01.10.2027
Collateral
1st rank maximum mortgage on Property in Krulli St 10
Nominal
€1,000
Subscription period
17.09.25 (10:00) – 26.09.25 (16:00)
Volta SKAI operates under a management services agreement and is marketed under the Endover brand, benefiting from Endover’s experienced team and know-how.
About Volta SKAI
Homes with a sense of future
The signature landmark of Volta Quarter - a high-rise duo with striking modern architecture spanning across 12 floors. The new double high-rise at Volta will bridge you into the future, delivering state of the art homes at the most coveted address.
Set on a high hilltop location, Volta SKAI stands proud on Tallinn’s golden-mile - the lineup of premium seaside developments including Noblessner and Krulli.
Expected sales revenue (1)
€57.2 m
Total investment (1)
€35.4 m
7,500 m2
Total sellable area
84
Units
(1) Tower A; Excl. VAT
Timeline
III quarter 2025
Engineering, pre-construction works
I quarter 2026
Start of construction
II quarter 2027
Apartments ready for move-in
2028
95% of apartments sold
Towering heights
Unmatched views
Rooftop Park
Designed Lobby
Indoor parking
1 / 5
Volta Quarter
The landmark development of Volta Quarter
The Volta Quarter is located in Kalamaja between Krulli and Noblessner, just ten minutes from the city center. The area combines a seaside lifestyle, modern infrastructure, and a growing community, creating a unique environment for living, working, and investing.
10 min
to the city centre
2+ ha
of greenery and park area
1500 / 4000
inhabitants now / eventually
400 / 3,500
jobs now / eventually
A leading real estate developer in Estonia
Endover is Estonia’s leading real estate developer, with over 25 years of experience and more than 75 successful projects. The company’s strengths lie in high-quality architecture, innovative solutions, and a long-term focus on value-creating developments in Tallinn’s most attractive areas.
75
Buildings
2,800+
apartments
310,000
m2 area developed
25+
years of experience
References
1 / 5
Volta Quarter (since 2017)
648 units, 91,200 m²
Volta Quarter, Tallinn
Website
Rocca Towers I-IV (2021 – 2024)
381 units, 57 800 m²
Päevalille 4,6,8,10, Rocca al Mare, Tallinn
Website
Volta Villa (2024)
23 units, 1,800 m²
Tööstuse 47, Kalamaja, Tallinn
website
Riviera Viimsi (2024)
65 units, 5,100 m²
Kaluri 21, 23, Kivila 2, Haabneeme beach, Viimsi
website
Ambassador (2021)
61 units, 6,500 m²
V. Reimani 8, city centre, Tallinn
Website
endover.ee
Documents
Key documents for investors
Investor Presentation
Download
Final Terms of the 1st tranche
Download
Terms & Conditions
Download
Investment Account Confirmation
For private individuals using tax-exempted investment accounts; please send digitally the signed form to investor@endover.ee
Est
Eng
Subscription
In order to directly subscribe to the Bonds, please head to the LHV Pank website
Subscribe
Silver Kalmus
Debt Securities Area Manager
Arranger and Joint Lead Manager
+372 5620 6450
silver.kalmus@lhv.ee
Valeria Kiisk, PhD
Partner, Redgate Capital
Joint Lead Manager
+372 5560 3332
valeria.kiisk@redgategroup.eu
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