In September 2016, Riga Plaza SC was sold in what represented one of the largest single asset transactions in the Baltic market in recent years. All 100% stakes have been sold to a global investment fund, as one of the leading emerging markets property developers Plaza Centers N.V. and a U.S. investment group NCH Capital have each divested their 50% stake. The agreement reflects a value for the business of EUR 93.4 million.
Colliers International team represented by Deniss Kairans and Angela Kolesnikova, has supported the seller from the property analysis stage to search of potential investors, bid evaluation and further negotiations with a selected buyer.
Total floor space in Riga Plaza is 90,000 sqm, including 49,000 sqm of leasable area. Shopping centre is now about 98% occupied and is one of the fastest growing malls in Riga, in terms of occupancy, footfall and turnover, which has been achieved out of successful asset management activity since the centre opened during very challenging times for the global and, specifically, Latvian economy.