The construction of the “Verde” office complex in Skanste has been completely completed

The second building of the office complex “Verde” has been put into operation, representatives of the developer of the office complex “Capitalica Asset Management” informed.

Thus, the first project of “Capitalica Asset Management” in Latvia has been implemented, the investment of which exceeds 65 million euros.

Along with the commissioning of the second building, most of the construction works of the tenants’ offices, with which long-term contracts have been concluded, have also been completed. Starting in May, the gradual process of moving these companies will begin.

In total, up to 2,500 employees will work in the “Verde” office complex, and the number of lease agreements concluded at the moment is 19. Such companies as “Swisscom”, “Decta”, “KPMG Latvija”, “Swetch”, “Merito Group”, “Workland” have become tenants. “, “Enefit”, “VIA SMS Group”, “Tietoevry Latvia”, restaurant “Dia 36.line”, “Moltto Coffee” and others.

On the other hand, the object’s leasing and management partner is the real estate agency “Colliers”.

Head of “Capitalica Asset Management” Mindaugs Łaudanskis states that the completion of the construction of the second phase of “Verde” is an important event for all those involved in the development of the complex, including bond holders and investors, adding that the company will continue the development of “A” class office complexes in the future not only in Lithuania, but also in Latvia.

It has already been reported that the construction of the first building was completed in the summer of 2022.

The developer and investor of the project is the company “Capitalica Asset Management”, which is an investment management company licensed and supervised by the Central Bank of Lithuania, which manages commercial real estate in the Baltic States. The fund managed by it “Capitalica Baltic Real Estate Fund I” owns office complex “Verde” in Riga, business center “135” in Vilnius, business center “Kauno Dokas” in Kaunas and shopping center “Luizė” in Klaipėda.

70% of the capital of “Capitalica Asset Management” belongs to “SBA Group”, which is one of the largest capital business groups in Lithuania, while another 30% belongs to the company “Fox Holdings” of the general director of “Capitalica Asset Management”, Andrjus Baršta.

“SBA Group” is one of Lithuania’s largest multi-disciplinary company groups operating in the real estate, investment management, furniture and clothing manufacturing sectors with a total of approximately 5,000 employees in the Baltics. The consolidated turnover in 2022 reached 440 million euros. “SBA Group” is developing a high-tech campus in Riga, on Lielirbes Street, as well as a residential area on Čakstes Street.