Good for Business, Latvia, Real Estate
International Internet Magazine. Baltic States news & analytics
Saturday, 11.05.2024, 04:54
Colonna purchased the former Parex Bank building in the centre of Riga
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.