SEB Bank financed the construction of the greenest office complex Verde in the
Skanstes business district of the Latvian capital. Capitalica Asset Management,
the investment management company of SBA Group - which is implementing the
project - has been granted a loan amounting to 60 mln. euros for a period of
five years.
Andrius Barštys, CEO of Capitalica Asset Management, says: "The credit was
given not only for construction of the building but also for redeeming the
outstanding bonds of Capitalica Baltic Real Estate Fund I which were previously
issued via private placement for the same purpose. We have been cooperating
with the SEB Bank since the establishment of our company, and the conditions
offered by the bank's branch in Latvia were the most favorable".
Currently, the construction of the first "Verde" A building is nearing
completion. It is planned that the first tenants will move into the office
complex this summer - 75% of the "Verde" A building has already been leased.
The exclusive rental partner of "Verde" is "Colliers".
Construction of the second building takes place under a schedule provided by
the company. Construction of the ground floors connecting the two buildings,
including an underground car park, has already been started since last summer.
Like the first building, the second one will have 11 floors, a terrace covering
600 sq.m with abundant greenery, and working places outside. At present, the
reinforced concrete structures of the building have already been installed, and
the facade works are being started. The estimated date of commissioning of the
entire office complex is set for mid-2023.
Ints Krasts, Member of the Management Board of SEB Bank, says: "Real estate in
the European Union generates approximately 36% of total CO2 emissions, which is
why banks, investors, and tenants pay more attention to the implementation of
sustainability principles, energy efficiency, and property certification.
"Verde" office complex is one of the examples of sustainable architecture, how
to ensure both the building's energy efficiency and to create a
productivity-enhancing environment with well-thought-out solutions".
"We are extremely proud of being the founders of the greenest office in Riga.
Verde qualifies for nZEB - a "nearly zero-energy building" and is built in
accordance with the criteria of the BREEAM certification system - at the BREEAM
"Excellent" level.We believe that Verde will not only contribute to the
development of a modern Skanstes business district, but also will attract more
investments to a commercial real estate market in the Latvian capital," shares
his expectations A. Barštys.
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 I, 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, operating in real
estate, furniture manufacturing, textile manufacturing, and investment
management with about 5000 employees in the Baltics. SBA Group is developing a
hi-tech campus in Riga, Lielirbes street as well as a residential district on
Cakstes street.
About SEB Group
SEB Group is the leading financial services provider in Northern Europe. As a
bank for close and long-term relationships, SEB offers financial advice and a
wide range of financial services in Sweden and the Baltic States. In Denmark,
Finland, Norway and Germany, SEB focuses on corporate banking and investment
banking for corporate and institutional clients. SEB Group's international
activities are represented in 20 countries around the world. As at 30 June
2022, SEB Group's total assets amounted to SEK 4,113 billion and assets under
management amounted to SEK 2,100 billion. SEB Group has 16,000 employees. More
about SEB Group: www.sebgroup.com.
Information for the media:
Andrius Barštys
CEO of Capitalica Asset Management
Andrius.Barstys@capitalica.lt
+370 612 30260
Andrius Barštys
CEO of Capitalica Asset Management
Andrius.Barstys@capitalica.lt
+370 612 30260
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