In Riga, a 3-room apartment was attempted to be sold for a quarter of a million euros, but no one bought it 0 15

The owner of all the apartments put up for auction is the company "SPI RE Holding S.a.r.l.", which is part of the "Amber Beverage Group". This group was at least previously associated with Russian billionaire Yuri Shefler. The group includes the struggling tax-paying liquor factory "Latvijas Balzams".

The debt collectors are the Estonian "Luminor Bank" and the Financial Department of the Riga City Council.

The auction featured two- and three-room apartments ranging from 64.6 to 84.7 square meters. The starting prices ranged from 223,000 to 268,600 euros.

The developer of the "Zunda Towers" complex, the company "Towers Construction Management", previously explained to the LETA agency that the reason for the auctions was disagreements between the project owner, the Luxembourg company "SPI RE Holding S.a.r.l.", and "Luminor Bank" regarding the financing of these apartments.

As a result of the dispute, the sale of all seven apartments at a reduced starting price was entrusted to the bailiff Andris Spore.

At the same time, a notice in the official publication "Latvijas Vēstnesis" indicates that another apartment in the complex, measuring 109.2 square meters with a starting price of 364,000 euros, has been put up for auction. The debt collector in this case is also "Luminor Bank". The auction will end on June 25 at 1:00 PM.

It was previously reported that "SPI RE Holding S.a.r.l." invested about 280 million euros in the "Zunda Towers" project. Now it is forced to sell apartments to pay off debts.

The high-rise buildings of "Zunda Towers" were commissioned in January 2020. The project developer is the company "Towers Construction Management", indirectly owned by entrepreneur of Russian origin Yuri Shefler.

Shefler's main business is related to the production and distribution of alcoholic beverages.