EfTEN Capital acquired Nordic Technology Park for 20 million euros and markes so far the largest investment in Latvia.
EfTEN Capital Latvia’s real estate portfolio expanded by buying 45 000 m2 office and industrial building in Jūrkalnes street 15/25. That is the fourth transaction of the asset management company of EfTEN Capital in Latvia.
The business centre offers 500 car parking spaces. Certainly, the location of the industrial park is the main and most important advantage. Nordic Technology Park is located in Riga, close to the Old Town. The Riga International Airport and Riga Port are within 5 min. driving distance.
Around 68 local and foreign companies have chosen Nordic Technology Park as their venue of operation, creating up to 800 work places. The tenants are engaged in wood processing, manufacturing of furniture, printing, tailoring and other fields of economic activity.
Viktors Savins, member of the board of EfTEN Capital said, that this type of buildings is one of the most stable requests. The subject is well managed and it is one of the more orderly objects in my experience.
Viljar Arakas, CEO of EfTEN Capital AS, this is so far the largest single investment in Latvia. “EfTEN Capital intension is to enlarge its investment activity in Latvia because of good economical outlook and the fact that Latvia recently became the Eurozone’s 18th member.”
EfTEN Capital SIA was jointly established in April 2013 by two founders- “EfTEN Capital” AS from Estonia and “NEWCOM” SIA, marking EfTEN Capital expansion into Latvian market. This is fourth property under EfTEN Capital management in Latvia.
SIA NEWCOM is majority shareholder in the companies involved in real estate development, construction and property management business in Latvia. SIA Newcom group daughter company SIA Newcom Development, later merged with Prime Capital, was established in August 2012 as acquiring company in reorganization of SIA Arco Development – Estonian Arco Vara AS subsidiary in Latvia.