Summus Capital acquires DEPO store in ImantaOne of the leading Baltic real estate investment holding groups Summus Capital has acquired DEPO DIY's store in Riga, Latvia. This is already a second acquisition by Summus Capital in Latvia. At the end of 2020, investment company acquired also Riga Plaza shopping and entertainment center.
Summus Capital has now become the owner of DEPO DIY’s store in Imanta, Riga (located at Kurzemes prospekts 3b, Riga). Property is built in 2021 with a total floor area of 19 000 m2, and it has been built as sustainable property considering environmental impact.
It is located in a clearly visible and accessible area, which is the main shopping area in the Riga, Imanta district. The store is easily reachable from the city center by a public transport as well as by private means of transportation. It is located close to a highway that allows to reach Riga, Jūrmala, Tukums, Talsi and many other destinations.
“DEPO, as the newest store in Riga and a part of the leading DIY chain in the Baltics, fits well into our diversified portfolio. We have been preparing for this transaction for a long time. During this time, we confirmed one more time that the strategy chosen by DEPO is a good basis for a long-term lease. We also want to increase the share of DIY in the rental turnover of the portfolio in the future,” said Hannes Pihl, Member of the Management Board of Summus Capital.
The agreement has been made between a current owner SIA “New Bumani Invest” and a buyer SIA “Vikingi 2” (Summus Capital).
The value of this deal is not disclosed.
About Summus Capital
Summus Capital OÜ is a real estate investment holding established in 2013 that holds 12 properties in all three Baltic countries. The Group has a well-diversified portfolio of cash-flow generating commercial real estate properties with asset value exceeding 375 mln eur in retail, office, logistics and medical segments. Summus Capital has a long-term investment horizon and a strong tenant base with more than 300 tenants. Summus Capital started its operations and is headquartered in Estonia, where it holds Veerenni 1 and Veerenni 2 medical centers, de la Gardie and Auriga shopping centers, Punane 56 multifunctional business complex and a portfolio of warehouse properties. In Latvia, Summus Capital holds Riga Plaza shopping center and Depo Imanta, in Lithuania BOD Group High Technology Centre, Nordika shopping center and Park Town 1 and 2 office buildings.
info@summus.ee
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