Capitalica Asset Management acquires land for the Verde office complex
‘’Capitalica Asset Management’’ is a Lithuanian investment management company and also the developer of Riga’s greenest office complex “Verde”. The company has made a strategic decision to expand its operations in Riga. It plans to expand the existing “Verde” office complex by constructing several new Class A office buildings with a total leasable area of 20,000 square meters.
In relation to this project, the company has already acquired a territory with a total area of 1.1 hectares, located right next to the existing “Verde” complex – between Hanzas Street and Gustava Kluča Street. The expansion project is planned to be implemented over the upcoming couple of years, resulting in the “Verde” complex having a total leasable area of 50,000 square meters, making it the largest office campus in Latvia.
The transaction by “Capitalica Asset Management” was carried out via the “Capitalica European Office Fund”. Other details of the land acquisition transaction have not been disclosed.
Following the strategy of “Capitalica Asset Management” to develop sustainable and energy-efficient offices only, the new office centre investment project will also adhere to these company values.
Ellex in Latvia advised Capitalica Asset Management on the acquisition of land from the real estate developer Pillar. As part of the transaction, challenges related to property development in the historical center of Riga had to be solved. The client was advised by Ellex partners Ivars Pommers and Inita Jurka and associate Ineta Kanepe.
Linked Services
