Estonia, Good for Business, Investments, Latvia, Markets and Companies, Mergers and take-overs, Real Estate

International Internet Magazine. Baltic States news & analytics Saturday, 23.10.2021, 14:04

Estonia's Summus Capital, Ivar Vendelin buy Riga Plaza

BC, Riga/Tallinn, 02.12.2020.Print version
Estonian company Summus Capital and investor Ivar Vendelin have become the new owners of the Riga Plaza shopping and entertainment center, representatives of the transaction's consultant Zenith Family Office informed LETA.

The consultants said that the shopping mall's new shareholders are Summus Capital, which owns one of the largest real estate portfolios in the Baltic states, as well as Estonian businessman Vendelin who was involved in the deal as a financial investor.


The parties of the deal have agreed not to disclose the price of the purchase, which was financed by Luminor Bank.


According to information available from the Land Register, since 2016, the building of the Riga Plaza belonged to LSREF3 Riga Plaza. According to information from Firmas.lv, since this week the company belongs to Loft Office, which is indirectly owned by Summus Capital and Vendelin. Russian citizen Galina Skvortsova and Vendelin have been indicated as the beneficial owners of LSREF3 Riga Plaza. 


Previously, LSREF3 Riga Plaza used to belong to the Luxembourg-registered company LSREF3 Latvia Investment, owned by Irish citizen John Patrick Grayken.


Riga Plaza, which opened in 2009, has a leasable area of 50,000 square meters and more than 170 tenants. The shopping mall is situated on Mukusalas Street in Riga, near the Salu Bridge.







    Search site