Funds, Good for Business, Latvia, Markets and Companies, Real Estate
International Internet Magazine. Baltic States news & analytics
Friday, 19.04.2024, 18:41
H&M Home has now opened in Galleria Riga
"We are
happy to be one of the first in the Baltics with the new H&M Home concept.
Since the beginning H&M has had good development in Galleria Riga and we
are now expanding the store. First out in the new expansion is H&M Home,
which has proven to be a great success for H&M Group,” says Maris
Smiltenieks, Country Manager of East Capital Real Estate.
“H&M
Home's new concept fits our customers in Galleria Riga like a glove.
H&M Home adds to our positioning towards life-style oriented brands. Our
path towards a life style oriented city galleria with unique brands for Latvia
has proven to be a strong strategy, that has led to an increased attraction and
an increase in foot fall and turn over, during the last years, which is an
opposite trend to many shopping centres in Europe. We are very excited since there will be lots
of new openings during August - October in Galleria Riga” says Zane
Sulca, Centre Manager for Galleria Riga.
Galleria
Riga - shopping
center in Riga, Latvia - was opened in 2010 totaling 24,300 square meters of
gross leasable area. Galleria Riga is owned by East Capital Baltic
Property Fund III and managed by East Capital Real Estate AS. Daily
operational management and development are provided by BPT Real Estate and
by the Stockholm based asset manager and retail real estate specialists, The
Retail Headquarters AB.
East
Capital Baltic Property Fund III is a real estate fund established by East Capital in August
2015. It invests in high-quality commercial properties with well-established
tenants in attractive locations in Tallinn, Riga and Vilnius. The equity
capital of the fund is EUR 100 mln and it is targeted to institutional
investors. Current property investments in the fund are Vesse retail
center, Nehatu Logistics Park and the first Hilton hotel in the
Baltics, located in and around Tallinn, as well as P5 Logistics Complex
and Galleria Riga in Riga.
East
Capital Real Estate,
part of East Capital group, is a leading real estate asset manager in
the Baltics with a team present on all three markets. The team manages three
funds with a total leasable area of 400,000 sqm spread over 25 properties and
with total asset value over EUR 415 mln.
East
Capital group is an
independent asset manager, founded in Sweden in 1997, with offices in Dubai,
Hong Kong, Luxembourg, Moscow, Oslo, Stockholm and Tallinn. The company manages
EUR 4.9 bn in public equity funds, real estate funds and separate accounts, for
a broad international investor base, including leading institutions.