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TOP 10 real estate deals in 2019

Low volumes of cashflow property development in recent years forced investors to consider not only ready-made properties but also those with development potential. In addition to the traditional objects with cashflow, the rating of TOP10 of 2019 real estate deals in Riga and surroundings also includes three considerable development land deals.

Investment volume in cash flow objects in 2019 has been kept at a similar level as a year before – approx. EUR 300 million, with office and retail transactions accounting for 75% of total investment volume last year.

Industrial cash flow objects are of increasing interest to investors - two industrial real estate transactions got into TOP 10 largest real estate deals of 2019, two more investment transactions in this segment have been concluded in early 2020. In general, the market demonstrates strong interest not only in cash flow objects, but also in land for development and housing properties - in 2019, land plots for office, retail and residential development have been actively acquired.

Compared to 2018, the share of local investments has dropped significantly from 43% in 2018 to only 9% in 2019. Scandinavian investors (mostly funds) have performed most actively, representing 44% of the total investment volume in cash flow objects. Besides, last year the volume of deals by international investors has increased, providing 28% of the total volume, largely due to new investors’ market enterance. It is also noteworthy that the land plots for development have been actively acquired by our Baltic and Scandinavian neighbours while local developers mostly acquired buildings for reconstruction.

“The total volume of real estate investment transactions in the Baltics exceeded EUR 1 billion in 2019, which is quite good indicator. The largest volume of transactions has been observed in Lithuania, the smallest - in Estonia. Latvia stood out with a number of noticeable deals with land plots for development in Riga as well as new investors entrance to the market,” comments Denis Kairans, Colliers Baltics partner.

TOP 10 real estate investment deals in 2019

No

Object

Place

Type

Price, M EUR

Seller

Buyer

1

Galerija Centrs

Rīga

Retail

75.0

LINSTOW

Baltic Horizon Fund

2

Portfolio: Brīvības bulvāris 21, Kaļķu iela 12-14, Kaļķu iela 15

Rīga

Office

Confidential

Baltic RE Group

VIG Fund

3

Luminor HQ

Rīga

Office

Confidential

Luminor

Colonna

4

Valdemāra Centrs

Rīga

Office

25.0

Capital Mill

Eastnine

5

Elipse BLC

Mārupe

Industrial

Confidential

Family Investment

Mariner Logistics

6

Lidostas Parks

Mārupe

Industrial

19.0

Piche

East Capital

7

Kimmel Kvartāls

Rīga

Mixed

9.5

MCITY Holdings

Eastnine

8

Lielā iela 2, 4, Mārupe

Mārupe

Retail

9.3

Medlone

Kārļa Būmaņi

9

Hanzas iela 10, 12, 14, Rīga

Rīga

Office

8.9

Privātpersona

Skanstes BC

10

Anniņmuižas bulvāris 40A

Rīga

Retail

Confidential

Hipo Fondi aktīvu pārvalde

Lumi Retail Property Fund

 


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Anastasija Ruža

Head of Marketing & PR

Riga

Experienced Marketing&Communications Manager with a demonstrated history of working in the financial services industry. Marketing professional with a MBA focused in Marketing, business management from RISEBA, MBA.

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