SG Capital acquires SWH Office complex on Skanstes street

Commercial real estate fund SG Capital Partners Fund I KS has acquired SWH Office complex on Skanstes street in Riga CBD. The office complex consists of 8 buildings that after renovation would have 40,000 m2 of leasable space and 850 parking places located on more than 4ha freehold landplot. Real estate news, City24The property is home to number of well-known global and local companies, including Bayer, AstraZeneca, Ergo, Evry, Webhelp, Inspecta, Merks, Mogo, Citadele branch, State Audit Service and many others. 

Harijs Švarcs, CEO of SG Capital says: "The office complex is a good addition to the nearby Duntes Nami office building (7300m2) we acquired in June this year. Altogether it becomes the largest office complex in Riga with excellent CBD location, impressive scale and more than 25,000m2 of further development potential. We are planning significant investments in the property and a strategy to improve building sustainability (BREEAM rating) and wellbeing of our clients, partners and the environment."

Aigars Kesenfelds, largest shareholder at SWH Group: "Over the years, we have invested a lot of time and work to develop the property into modern CBD office centre, servicing thousands of people on a daily basis and offering variety of essential services to our clients. We are happy to see that the work we have started will be continued by professionals from SG Capital."

SG Capital Partners Fund I KS is a commercial real estate fund managed by the investment management company SG Capital Partners AIFP (SG Capital). The fund makes investments in cash flow generating retail and office real estate projects in Baltics States. This year the Fund has acquired office buildings in Riga on Brivibas str. 39 and Duntes str. 3. 

The seller was advised by Fort legal and Latio acting as a real estate advisor. Buyer was advised by Ellex Klavins law firm. The transaction was financed by Citadele bank. Parties have agreed to keep the transaction terms, including the price, confidential.

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