UAB Capitalica Baltic Real Estate Fund I: Enefit moves three group offices to "Capitalica's" Verde complex

The modern Skanste business quarter is being filled even more with companies
focused on sustainability - this is confirmed by the recently concluded
long-term cooperation agreement between the Riga's greenest office complex
Verde and Enefit group, which is the largest wind energy producer in the Baltic
states and second-largest electricity merchant in Latvia. The deal involves the
lease of premises on two floors of the Verde A building - Enefit offices will
be located on the 9th floor, and the first Enefit private and legal customer
service center in Latvia will be located on the 1st floor. 

What is especially significant, Enefit's new office will be three times larger
than it is now - over 900 m2 - and in the future, all three Enefit companies in
Latvia will be centralized in Verde - Enefit, Enefit Connect and Enefit Green.
This will improve the efficiency of the everyday work. Also, the company will
continue working in a hybrid mode - there will be open office spaces, separated
offices and a metropolis area. What is important, is that there will be
separate rooms for meetings, discussions, brainstorms, also for recreation and
informal conversations. 

Krists Mertens, Enefit chairman of the board: "Our company is growing and
developing swiftly, therefore, there was a need for larger office premises. The
choice of the office premises in the new Verde complex is a logical step
because a well-organized and comfortable environment is critically important
for efficient work. The green energy and sustainable solutions are cornerstones
of Enefit operations. Our task will be to ensure the provision of
value-creating and smart energy solutions to Latvian businesses and households
and be an ally on the way to sustainable and more environmentally-friendly
management. In our opinion, the Verde office complex is a suitable environment
because it meets our values and the needs of the modern work environment." 

Enefit is the second-largest electricity merchant in the corporate segment and
the third-largest electricity merchant in a household segment in Latvia. Along
with electricity sales, Enefit in Latvia develops and finances renewable energy
and energy efficiency projects, as well as sells natural gas to a number of
Latvia's small and large companies. Enefit has been operating in Latvia since
the liberalization of the power market for more than 16 years. 

Iveta Lace, Verde commercial director: "We are truly satisfied that Verde will
be green not only externally thanks to energy efficient architecture and rich
greenery, but also internally - thanks to its tenants focusing on
sustainability. This is reflected in our cooperation with Enefit, a subsidiary
of the Baltic largest wind energy producer Eesti Energia. Significantly, this
progressive and green-oriented company has become a tenant not only of our
office premises but also the first tenant in the service area, which will
result in the opening of the first Enefit customer service center in Latvia,
where private and legal customers will be able to receive consultations in
person - it will be located on the 1st floor of the Verde A building". 

Thanks to the swift development of the company, not only the client portfolio
is growing, but also its team. At present, there are 70 professionals taking
care of the needs of Enefit clients on a daily basis. 

As reported, Verde is the first project implemented by Capitalica Asset
management in Latvia, in which more than EUR 65 million will be invested. It is
being built under the leadership of Notus Developers, a subsidiary of SBA
Group. The project's general contractor is LLC Velve, and the anchor tenant -
Latvia's leading real estate agency Colliers. Currently, other tenants in the
office complex include such companies as Swisscom, Decta, KPMG Latvija, Swetch,
Alppes Capital, Workland and Enefit. 

About Verde

Verde (www.verde.lv) will be the greenest A-class office complex at the
Skanstes area in Riga (R.Hirša Street 1a), the place opposite the Latvian Fire
Fighting Museum, and the only A-class office complex the first stage of which
will be commissioned in June 2022. The Verde office complex comprises two
office buildings with a total leasable area of 30 000 m2 (45 000 m2 together
with underground parking area). Verde has been developed in line with BREEAM
Excellent and the nZEB (nearly Zero Energy Building) standards. The special
feature of Verde will be incomparable greenery on 600 m2 large terraces with
trees and plants on each of the buildings and green outdoor workspaces in the
yard. 

Verde has been ranked among the most-sustainable projects in the competition
"Sustainability in Architecture, Construction and Design 2020". Verde embodies
its green thinking in a sustainable and contemporary architectural solution
designed by Latvian architects Andris Kronbergs and Janis Zvejnieks (Arhis
Architects), applying Class A 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 the Central bank of Lithuania and is
managing investment funds investing in commercial real estate in the Baltic
States. Capitalica Baltic Real Estate Fund, managed by Capitalica Asset
Management, owns office complex Verde in Riga, the business center 135 in
Vilnius, the business center Kauno Dokas in Kaunas, and the shopping center
Luize in Klaipeda. Capitalica Green Logistics Fund owns 2 logistic complexes in
Tallinn. 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
5,000 people. 



For more information:

Andrius Barštys

CEO of Capitalica Asset Management

[e-mail]

[phone]