Luminor Finances Acquisition of Duntes Nami Office Building
17.07.2018
Luminor Bank has financed the acquisition of the Duntes Nami office building in Riga. The funding was received by SG Capital Partners Fund I KS, a commercial real estate fund that invests in sustainable properties in Latvia, Lithuania, and Estonia.
The total office space of the building exceeds 12,000 square meters, and it currently houses 14 tenants.
The transaction amount has not been disclosed due to a confidentiality agreement.
Harijs Švarcs, Chairman of the Board at SG Capital Partners, commented: “This office building is a great addition to our growing commercial real estate portfolio. Its location between Valdemāra, Skanstes, and Duntes streets provides excellent access via both public and private transport. The Skanstes district is set to benefit from significant infrastructure improvements in the coming years. We plan to make substantial investments in modernizing the building and enhancing its sustainability (BREEAM certification).”
SG Capital Partners Fund I KS is a commercial real estate fund managed by SG Capital Partners AIFP (SG Capital), a real estate investment management company. The fund invests in cash-flow-generating retail and office properties in the Baltic states. Its future strategy includes expanding its real estate portfolio with additional properties in the capitals of the Baltic states.
Article: https://www.db.lv/zinas/luminor-finanse-duntes-namu-biroju-ekas-iegadi-477115
