Latvia

Increased activity can be felt on the Riga office market, where 85,000 sqm of new office space were offered in 2020 and investment transactions were more active than in the last 3 years, according to the “Riga Office Outlook” market report for the second half of 2020 published by Newsec.

Eastnine acquires a property portfolio including two office properties in Riga and Vilnius, respectively. The purchase price amounts to €35.5 million. Eastnine’s acquisition is, so far, the largest office transaction during 2021 in the Baltics.

In a Europe-wide survey of transaction volumes, yields and rental prices of retail properties in 2020 in 31 locations, Catella Research comes to a mixed conclusion. Transaction volumes have increased in five European countries compared to 2019, whereas transaction volumes have declined across Europe compared to 2015 - with th...

Citadele Bank and Lords LB Baltic Green Fund (V) have signed an agreement on a change of ownership for Citadele’s head office building. The purchase is being financed with a loan of 27 million from SEB. It’s the largest transaction in Riga’s office space market in 2020.

Industrial and logistics real estate markets across the CEE-17 region are all at different stages of maturity, both in terms of size and the pace of development. The total supply of modern Industrial and Logistics (I&L) stock across the CEE-17 is well over 50 million m² in total. From this supply, the current availability can...

Riga’s market for modern offices, which has been recovering in recent years, is opening up broad opportunities for tenants and awaiting a new impulse from local and international companies, says the “Riga Office Outlook” market report for the first half of 2020 published by Newsec.

AS Baltic RE Group signed a large real estate office deal in Latvia, selling part of his Riga’s portfolio to insurance giant Vienna Insurance Group which acquired three landmark office properties in Riga at Kalku street 12, Kalku street 15 and Brivibas boulevard 21. The deal defines a new benchmark in the market and demonstr...

Low volumes of cashflow property development in recent years forced investors to consider not only ready-made properties but also those with development potential. In addition to the traditional objects with cashflow, the rating of Top 10 of 2019 real estate deals in Riga and surroundings also includes three considerable deve...

The coastal town of Liepaja to announce the signing of the 90-key Radisson Hotel Liepaja located in a beautiful art deco building in the town center. This renovated historical property will offer guests a wonderful combination retaining its beautiful history without compromising on the services required by the modern traveler.

East Capital’s third real estate fund has acquired a fully leased logistic park near Riga International Airport from specialist developer Piche for almost €19 million, giving it exposure to strong occupier demand for modern warehousing in proximity to Latvia’s capital city.

The Valdemara office building in Riga has been sold. The property was owned by Capital Mill and now acquired by Eastnine for approximately € 25 million. Located in the heart of the old town, Valdemara is an eight-storey class A business centre with a total area of roughly 8 500 sq m. Office space is leased to more than 10 ten...

Capital Mill has sold the Valdemara office building in Riga, Latvia, to the Swedish listed real estate company Eastnine for c.€25m. Located in the heart of the old town of Latvia’s capital city, the asset comprises roughly 8,500 m² spread over eight storeys. Office space is leased to more than 10 international tenants, includ...

After two years of construction Multi Corporation and Linstow Center Management opened the enlarged Alfa shopping centre in Riga to the public on 5 September 2019. This extension increased the overall leasable space to 71,000 sqm and number of tenants rose to 210 from the current 170.

Northern Horizon Capital AS as the management company of Baltic Horizon Fund signed an agreement with Linstow AS to acquire 100% shares of Tampere Invest SIA, which owns Galerija Centrs Shopping-Centre in the heart of Riga. The purchase price is €75 million, which corresponds to an estimated entry yield of approximately 6,7%....

Riga’s office market has been stagnating but now it is recovering – the Latvian capital begins to catch up with the neighbouring Vilnius and Tallinn markets, which increases the overall attractiveness of the Baltic region to international tenants. The latter tend to come to those cities where they have the greatest freedom to...

Northern Horizon Capital AS as the management company of Baltic Horizon Fund hereby informs that Dalia Garbuzienė resigned from the supervisory board of Northern Horizon Capital AS.

YIT and Rimi has signed an agreement on constructing and renovating a warehouse complex in Riga, Latvia. The value of the contract is approximately €37 million. The construction will begin in beginning of December and it will be completed in the end of May 2020. The project is booked in the order backlog of the fourth quarter.

DNB and Nordea have entered into an agreement with Blackstone to sell part of their shares in the merged bank, Luminor. The group was established as an independent Baltic bank in 2017, built on the Baltic businesses of Nordea and DNB. Today, Luminor is the 3rdlargest financial services provider in the region, with a 23% lendi...