SG Capital Partners Fund I Acquires “SWH Office Center” in Riga
18.12.2018
The real estate fund “SG Capital Partners Fund I” has acquired “SWH Office Center” in Riga, Skanstes Street 50, according to fund representatives speaking to LETA.
The transaction was financed with a loan from Citadele Bank. The involved parties – the previous owner, “SWH Group”, and “SG Capital Partners Fund I” – have agreed not to disclose transaction details.
“SG Capital Partners Fund I” Chairman Harijs Švarcs stated that the acquisition of “SWH Office Center” complements the fund’s existing “Duntes Nami” office property, which spans 7,300 square meters.
“We plan to make significant investments in the office center’s further development, enhancing tenant convenience and improving the property’s overall sustainability,” he added.
Meanwhile, the largest shareholder of “SWH Group” Aigars Kesenfelds noted that significant resources had been invested in the development of the “SWH” center in recent years, while expressing satisfaction that the “SWH” office center’s management and future development will be taken over by the SG Capital team.
The office center consists of eight buildings, with a total leasable area of 40,000 square meters and 850 parking spaces.
“SG Capital Partners Fund I” is a Latvia-registered commercial real estate fund, managed by the alternative investment fund manager “SG Capital Partners AIFP”.
The fund’s goal is to invest in cash-flow-generating properties in the Baltics, generating returns for investors while improving property sustainability. This year, the fund has acquired office buildings in Riga – at Brīvības Street 39 and Duntes Street 3.
Article: https://www.la.lv/zinams-kurs-iegadajies-swh-biroju-centru-riga
