EfTEN Kinnisvarafond news
EfTEN Real Estate Fund acquires A class office building in Riga city centre.
EfTEN Real Estate Fund expanded Latvia’s real estate portfolio by acquiring in auction A class office building in Lāčplēša street 20A. That is the fifth transaction of the asset management company of EfTEN Capital in Latvia.
EfTEN Real Estate Fund, managed by EfTEN Capital, acquired its third commercial building in Riga. The building was constructed in contemporary modern style – in glass and marble. In the year 2006, the building architect company “Kubs” received Riga architecture Year award for commercial and office building in Lāčplēša 20A.
The building was built in 2005 according to the highest technological requirements for Class A buildings. A high-end finishing as well as a high level of technological equipment offers the highest comfort for tenants.
“The acquisition of “Terbatas Biznesa Centrs“ contributes to the diversification of our fund portfolio – adding a high quality, income producing office asset in Riga City Center” said EfTEN Capital Latvian manager Viktors Savins.
Located at the corner of Lāčplēša and Tērbatas street, “Terbatas Biznesa Centrs” is an example of environmental sustainability and state-of-the-art building systems. By offering the highest bid in amount of 9 million euros EfTEN Real Estate Fund´s SPV, SIA Emilix, was announced as auction winner and entitled to receive property title within 60 days.
EfTEN Capital SIA was jointly established in April 2013 by two founders – EfTEN Capital AS from Estonia and “NEWCOM” SIA, marking EfTEN Capital expansion into Latvian market. This is fifth property under EfTEN Capital management in Latvia.