Good for Business, Latvia, Real Estate

International Internet Magazine. Baltic States news & analytics Wednesday, 20.03.2019, 18:07

Colonna purchased the former Parex Bank building in the centre of Riga

BC, Riga, 19.12.2018.Print version
Colonna, an investment company specializing in commercial real estate, has purchased an office building at 8 Valdemara Street in the centre of Riga, which is most widely known as former Parex Bank headquarters, informed Colonna representative.

The commercial building at 8 Valdemara Street has been recently renovated and is located in the historical centre of Riga, which is on the UNESCO World Heritage List. On the seventh floor of the office building, there is a total of 3,900 m2 of rentable space, where several well-known companies are currently operating.

 

According to Colonna’s CEO Roberto De Silvestri, the Riga real estate market has been of great interest to the company: “We are constantly looking for new investment objects. We are systematically monitoring the real estate market of the Baltic capitals, and Riga is certainly one of the most attractive areas we would like to invest in. We are still interested in commercial real estate with existing long-term rental agreements, which produces a stable cash flow. If necessary, we will make additional investments in buildings, and we also have the capacity to provide high-quality management services.”

 

Founded in 2006, Colonna investment company is one of the largest investors in commercial real estate in Estonia and the Baltic States. Colonna primarily brokers the investments of international professional investors in real estate projects located in the Baltic States and manages the commercial operation of the purchased properties. Over 300 miln euros have been invested in the Baltic real estate market through Colonna Group. The company’s portfolio comprises 90 commercial buildings with more than 250,000 square meters of rentable space and over 700 tenants in total. Colonna is an active contributor to charity projects and supporter of sport and culture. 






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