UAB Capitalica Baltic Real Estate Fund I: Tietoevry becomes the largest anchor tenant in building B of the Verde business center

Not only globally, but also in Latvia there is a developing trend - companies
focusing on sustainability are choosing their offices only in energy-efficient
Class A buildings that meet BREEAM standards. This has been the case also of IT
company Tietoevry which has just become the largest anchor tenant of building B
of Riga's greenest office complex Verde. 

As both companies have agreed, a lease contract has been signed on the
establishment of the office for Tietoevry Latvian branch on the 4th, 8th and
9th floors of Verde building B with a total floor space of 4,500 m2. The deal
was concluded at the end of last year, becoming the largest office rent deal in
Latvia in 2022. 

Iveta Lace, Verde Commercial Director, says: "As Tietoevry arrives in Verde,
Skanste - Riga's newest central business district is even becoming the
technology epicentre of the Latvian capital. Now and exactly here such a hub is
developing that will promote economic activity and international attractiveness
of the city and our country in general. I am truly glad that the development of
this innovative company will take place in Verde. At the same time, I would
like to note that building B, which is still in construction process, has
already been rented by 68%." 

The Latvian branch of Tietoevry is one of the country's ICT export and
innovation leaders with more than 1,100 employees who specialize in development
of different IT systems and payment solutions for clients in Latvia, the Baltic
states, and the world. Riga also houses Tietoevry corporation's global
Financial Services Centre and IT Services Centre. 

Valerija Varna, Head of Tietoevry Latvian branch, underscores: "The team of our
information technologies and financial experts on an everyday basis develops IT
solutions for organizations and improves businesses in order to promote and
create changes for better. At present we lay the foundation for our own growth
for better. Moving our office to Verde business centre reflects our future
goals and strategy - modern and possibly the best working environment for
Tietoevry employees, as well as sustainable, competitive and innovative
business solutions for clients and partners. We see a huge potential in Riga's
quiet centre and Skanste becoming the artery of the information technologies
and financial sector in Riga." 

It is planned that the new Tietoevry office in building B of Verde office
complex will be opened in 2024. Meanwhile, 2023 will be devoted to development
of the interior design by architects' office ARHIS ARHITEKTI. 

Inese Plate, Head of Tietoevry Baltic offices, notes: "Over the past years, the
functions of offices and workplaces have changed considerably. We are confident
that activity-based office with smart technologies will help to successfully
continue our hybrid work model. The main criteria for selecting the new
Tietoevry office were energy efficiency of the building, smart office
management system and excellent air quality. Also, the green terrace, fast
charging facility for electric cars, parking space for bicycles and other
facilities are of the same importance, contributing to wellness of our
employees and reducing the ecological imprint of our company." 

Eriks Bergmans, Colliers Latvia Partner and Head of Agency: "Tietoevry is a
company with very high standards towards the wellbeing and productivity of
their employees, brand awareness and sustainability. We are truly glad that
Riga can now offer such Class A project as Verde that completely meets the
highest international corporate standards. With exceptional attention to all
the details paid, this deal is the largest office lease transaction of 2022 in
Riga. The total leased area of Verde proves that new development projects at
construction stage are becoming even more attractive for companies that choose
sustainability, comfort and quality for their future development." 

As reported, Verde is the first Capitalica Asset Management project in Latvia,
in which more than EUR 65 million will be invested. The office complex is being
built under the leadership of Notus Developers, a subsidiary of SBA Group. The
project's general contractor is Velve, and exclusive leasing and management
partner - Latvia's leading real estate agency Colliers. So far, tenants of the
office complex include such companies as Swisscom, Decta, KPMG Latvija, Swetch,
Merito Group, Workland, Enefit, VIA SMS Group, Veselibas centrs 4 and
Tietoevry. 



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 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 Z114 Real Estate Fund currently manages an office
and warehouse complex, and in the future plans to develop a new Class A
business center on Žalgirio st. in Vilnius. Capitalica Green Logistics Fund
owns 3 logistic complexes, two in Tallinn and one in Riga. 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. Consolidated sales in 2021 amounted to EUR 404.6 million. 


     For more information:
     
     Andrius Barštys
     CEO of Capitalica Asset Management
     [e-mail]
     [phone]