Office complex Verde has achieved 100% occupancy

The Verde office complex has reached a significant development milestone – its first two buildings, A and B, with a total leasable area of ​​30,000 m², are now fully leased.

This significant indicator in the Latvian real estate market was achieved thanks to the conclusion of six new lease agreements within four months. Consequently, the Verde developer, Capitalica Asset Management, is already actively working on the architectural and construction plans for the complex’s expansion and is also preparing to start the leasing process for the new buildings C and D in the spring.

Currently, the Verde office complex has a total of 27 tenants representing various industries, including IT, financial services, pharmaceuticals, energy and the legal sector.

As previously reported, in the summer of 2024, the Lithuanian investment management company Capitalica Asset Management made a strategic decision to expand its operations in the Latvian capital. The company plans to develop the existing office complex “Verde” by constructing several new class A office buildings with a total leasable area of ​​more than 20,000 m². In order to implement this, the company has acquired a territory with a total area of ​​1.1 hectares, located next to the existing “Verde” complex – between Hanzas Street and Gustava Kluča Street. It is planned that the expansion project will be implemented within the next couple of years, resulting in the total leasable area of ​​the “Verde” complex to be 50,000 square meters, making it the largest office block in Latvia.

Ellex in Latvia provided legal advice to the developer, starting from the land acquisition and construction process to the conclusion of lease agreements and communication with tenants. The team included partners Ivars Pommers and Inita Jurka, senior associate Zane Miglāne and associates Ineta Kaņepe and Marats Golovkins.