Total investments in commercial real estate in Latvia reached EUR 341.3 mln last year compared to EUR 394.4 mln in 2015. This amount includes only commercial property worth over EUR 0.4 mln that has been purchased for rent. Investments in development objects and land properties reached additional EUR 82 mln.


The biggest activity was observed in the retail segment, followed by office segment. In 2016 most active investors were EfTEN Capital and Norther Horizon Capital. Also, new investors entered the market, the biggest of them was international investment fund Lone Star.

 

Top 10 commercial real estate investment deals in 2016:

No. Quarter Object Type Seller Investor
  Above EUR 30M        
1. Q3 2016 S/C Rīga Plaza Retail Dīksna Lone Star Funds
2 Q3 2016 S/C Domina Shopping Retail KanAm Grund Kapitalverwaltungsgegesellschaft EfTEN Kinnisvarafond II
  EUR 20-30M      
3. Q1 2016 SWH Biroju Centrs Office SWH Grupa Group of Private persons
4. Q3 2016 Upmalas Biroji Office  Bauplan Nord Baltic Horizon Fund
  EUR 10-20M        
5. Q1 2016 Portfolio Office/Retail Geneba Laurus Fund
6. Q4 2016 S/C Atrium Azur Retail  MD Galerija Azur KS Holding 
7. Q4 2016 Ulbrokas Street 23, Riga Office/Industrial PBLC Biznesa Centrs IBR
  EUR 5-10M        
8. Q2 2016 DSV Logistic centre on Krustpils Street 31, Riga Industrial DSV Transport EfTEN Real Estate Fund III
9. Q3 2016 Piepilsētas, Kekavas parish Industrial NI Piepilsētas   Pillar Investment 3
10. Q2 2016 Tehnikas Street 3, Airport "Riga", Mārupes parish Office NIF Projekts 1 Pillar Investment 1

The TOP 10 investments in 2016 accounted for EUR 281 mln.