UAB Capitalica Baltic Real Estate Fund I: Workland to open environmentally friendly coworking center at Verde office complex

Riga, Latvia, 2022-05-12 08:16 CEST --
Workland, a leading provider of flexible office space solutions, is expanding
its network in the Baltics and reaches an agreement with Riga's greenest office
complex Verde on long-term cooperation, becoming its fourth anchor tenant. As a
result, it is planned to open an environmentally friendly coworking center
Workland Verde in the Latvian capital city this autumn, investing over EUR 1
million. 

The new Workland center will be 1420 m2 large - it will occupy the whole second
floor of the Verde A building, which will be turned into an inspiring and
functional coworking space. It will house private offices of various sizes,
coworking and open areas, as well as meeting rooms, thus providing a wide
variety of space lease solutions for people preferring various kinds of working
styles and valuing the sense of community and a flexible environment. There
will be room for around 180 people at the center. 

"For some time already, we have been planning to expand our network of flexible
office spaces in Riga, When the opportunity arose to set up a coworking center
in the environmentally friendliest office building Verde, we saw consistency
with our values regarding sustainability and a people-oriented working
environment, so we decided to act," Workland founder and CEO Indrek Hääl said,
commenting on the choice of location. 

In 2022 Workland plans 40 percent growth in the Baltic market, providing over
7000 m2 of office space for lease on flexible terms. Altogether, 750
workstations will be set up in the three countries. 

Iveta Lace, Verde Commercial Director, says: "While planning the range of the
Verde complex's additional services, we knew from the start that there must be
coworking opportunities here. We are therefore glad that Workland, one of the
industry's leaders in the Baltics, will be providing this service here.
Experience shows that a lease of coworking space at this center is a good
launch pad for startups, small or bigger corporates that later grow larger
rapidly. Swiss telecommunications and software developer Swisscom is a great
example of this - as it started operations in Latvia, it leased workspaces at
the Workland Telegraph center in Riga Old City, but has now become our anchor
tenant. We hope that this success story will motivate young entrepreneurs to
work at the newly created coworking center, and who knows - perhaps in some
time we will sit down for talks to seek more spacious premises for them at the
Verde complex". 

Hybrid work is becoming the dominant style in many companies, which is why the
Workland Verde center will be developed so that it could easily ensure the
adjustability of premises depending on changes in the tenants' team or its
needs. It will introduce the most advanced and environmentally friendly
coworking office concept in Riga, designed by Lauder Architects. 

Igor Beloborodov, Workland COO: "When choosing new projects it is becoming more
important for us to focus on sustainability - when seeking new development
options, energy efficiency and sustainable solutions are the key factors. As
the most environmentally friendly building in Riga, the Verde office complex
was a project consistent with our values and plans. We are therefore inviting
entrepreneurs looking to work and develop their business in a green,
environmentally friendly environment, to apply for booking coworking offices at
the Workland Verde." 

At the new Workland Verde coworking center, it will be possible to rent several
smaller offices, ensuring privacy for teams of various sizes. In all offices,
big and small, there will be plenty of light, unique interior solutions and
up-to-date design. 

"In addition to the Workland premises, all our tenants will be able to also use
the Verde building's amenities including additional services, a large terrace
on the 5th floor where it will be possible to work as it will have outdoor
workspaces, as well as to take a break from work, enjoying a fantastic view of
the capital city's center," comments Agnese Pidrika, Workland centers manager
in Latvia. 

As reported, Verde is the first project developed by Capitalica Asset
Management in Latvia, with investments in the project exceeding EUR 65 million.
Verde is being built under the leadership of Notus Developers, a subsidiary of
SBA Group. The project's general contractor is LLC Velve, while Latvia's
leading real estate agency Colliers is the exclusive lease partner. The office
complex's tenants already include companies like Swisscom, Decta, KPMG Latvia,
Swetch, Alppes Capital and Workland. 

About Verde

Verde (www.verde.lv) will be the greenest A class office complex in Riga, at
the Skanstes Quarter (1a R.Hirša Street), the place opposite the Latvian Fire
Fighting Museum, and the only A-class office complex the first stage of which
will be opened in June 2022. The "VERDE" office complex comprises two office
buildings with a total leasable area of 30 000 m2 (total floor space with
underground parking lots - 45 000 m2). The complex has been developed in line
with BREAM Excellent and the nZEB (nearly Zero Energy Building) standards. The
unique signature of Verde will be superb greenery on 600 m2 large terraces with
threes and other plants in each building, as well as a green backyard. Verde
was ranked among the most sustainable projects in the competition
"Sustainability in Architecture, Construction and Design 2020". The "green
thinking" of Verde is embodied in the sustainable and modern architectural
solution by award-winning Latvian architects Andris Kronbergs and Janis
Zvejnieks (Arhis Architects) and brought to life by A-class energy efficiency
and smart building management solutions. 

About Capitalica Asset Management and SBA Group

Capitalica Asset Management (www.capitalica.lt) is an investment management
company licensed and supervised by Central bank of Lithuania which is managing
investment funds investing in commercial real estate in the Baltic States.
Capitalica Baltic Real Estate Fund, managed by Capitalica Asset Management,
owns the office complex Verde in Riga, the business centre 135 in Vilnius, the
business centre Kauno Dokas in Kaunas and the shopping centre Luize in
Klaipeda. The controlling stake (70%) of Capitalica Asset Management is held by
SBA Group, one of the largest Lithuanian business groups, and another 30% is
owned by A. Barštys' (CEO of Capitalica Asset Management) company Fox Holdings. 

SBA is one of the largest Lithuanian capital business groups. It consists of
more than 30 companies operating in real estate, furniture manufacturing,
textile manufacturing and investment management. The group employs around 5,500
people. Consolidated sales in 2020 amounted to EUR 342.5 million. 

About Workland Group

Workland Group is the largest network of coworking spaces in the Baltics with
13 centers, of which two - Telegraph and Verde - are located in Riga, five in
Tallinn, five in Vilnius and one in Kaunas. BaltCap, the largest private
capital investor in the Baltics, together with the company's founder and
management is the key shareholder of Workland. 



For more information:

Andrius Barštys

CEO of Capitalica Asset Management

[e-mail]

[phone]