Latvia

Bonava is commencing production of a new project consisting of 101 housing units in Vilnius. In parallel, production has started on the second and final phase of the Pikaliiva Kaarmaja neighbourhood in Tallinn, consisting of 81 housing units, and the Blūmendāles Majas project in Riga, consisting of 58 housing units.

East Capital Real Estate fund IV and Rimi Baltic enter into an agreement whereby East Capital Real Estate acquires the modern 94,000 sq metres logistical and office center Rimi Baltic Distribution Center. This acquisition is 2023’s largest real estate transaction in Latvia and the largest in the Baltics for a logistics facili...

The Baltic Horizon Fund investment fund has selected Newsec as its partner for the management of the shopping center Galerija Centrs, located in Riga. Starting from February 2024, Newsec experts will provide all services related to the maintenance of the shopping centre, including real estate management, leasing, accounting, ...

EfTEN Capital announced the acquisition of a 12-storey residential building in the Dole Shopping Centre area, marking a significant step into the residential long-term rent sector in Latvia. The purchase, valued at €2.75 million, signals the Fund's strategic intent to diversify its real estate portfolio, to establish a robust...

This autumn Eften will establish a new fund aimed at institutional investors, with the objective to fill the financing gap that is emerging in the Baltic commercial real estate market. The fund will finance real estate projects that require additional capital. Financing will be provided both with debt and equity.

East Capital Real Estate Fund IV signed an agreement with real estate developer Hepsor for the acquisition of a modern last mile and stock office building, StokOfiss U30, located in Riga, with a total lettable area of 3642 square metres. This is the second of two acquisitions for the fund over the past two weeks.

Coworking operator Workland selects Galleria Riga as the site for its next, and largest, coworking space to date. This will make Galleria Riga the largest coworking hub in Latvia.

The difficult market situation is reflected in Bonava's business figures. Instead of the planned 940 residential units in 2022, the developer has only sold 700 units.

East Capital Real Estate has acquired “Place Eleven”, a 16.000 sq m office complex located in a rapidly developing part of central Riga. The building is almost fully leased and has a BREEAM “Excellent” certification.

EfTEN Real Estate Fund III AS and EfTEN Kinnisvarafond AS signed a merger agreement. The merger will create the largest real estate fund in the Baltics, with a total balance sheet of almost 400 million euros. After the completion of the merger, the merging fund will be named EfTEN Real Estate Fund AS, and its shares remain li...

Summus Capital has acquired Damme shopping center in Imanta with Citadele Bank financing. This is the third acquisition of the investment manager in Latvia. So far, the group has supplemented its portfolio in Latvia by acquiring the shopping and entertainment center “Riga Plaza” and the DEPO store in Imanta.

KS Holding, a Kesko Group company, has completed the sale of Kesko-Senukai stores in Vilnius and Daugavpils to the Finnish Special Mutual Fund Titanium Baltic Real Estate. Together with the sale of Riga’s Ozols Centrs, acquired by Titanium in November , KS Holding has brought retail assets valued at €60 million to the market....

After almost two years of the pandemic, the office asset class in Europe is proving to be largely resistant to the crisis, albeit with limitations. Although the transaction volume of around €87.5bn in 2021 was up on the previous year (+4.1%), it still lagged behind the pre-pandemic period (-28.2% compared to 2020, -15.3% comp...

Newsec has acquired BPT Real Estate from private equity fund manager Baltcap. BPT Real Estate owns property management companies operating under that same name in Lithuania, Latvia and Estonia, as well as a controlling stake in Projector, a provider of construction management and supervision services in the Baltic countries.

According to the corporate restructuring programme, Stockmann has sold its department store properties in Tallinn and in Riga to Viru Keemia Grupp (VKG). The total sales price is approximately €87 million. Stockmann will use the proceeds from the sales of the properties in full to reduce its secured restructuring debts.

KS Holding, a Kesko Group company, has successfully completed its first investment by selling Ozols Centres in Riga to the Finnish Special Mutual Fund Titanium Baltic Real Estate. The purchase price for c.€40 million, generating a double digit return for investors.

The “Riga Office Outlook” report for the third quarter of 2021 prepared by Newsec in the Baltics shows that more and more new space is being developed in the Latvian capital. Rising along with the new properties is the number of prelease agreements.

Eastnine's Board of Directors has decided to broaden the current strategy from offices to include prime logistics properties in the Baltics. Diversification means continued high returns, but at a lower risk level. A broader investment focus further strengthens the company's growth opportunities.