Lords LB Baltic Green Fund (V), managed by Lords LB Asset Management, has signed a long-term office lease agreement with the anchor tenant of the Citadele Business Center – bank Citadele. This means that the bank’s headquarters, occupying 10,500 square meters, will continue to be located at its current address in Riga, Latvia – Republikas laukums 2a. This is the largest office lease transaction concluded in Riga over the past 12 months.
“The continuation of our long-term cooperation with bank Citadele confirms our mutual trust, shared vision, and the high-quality standards we uphold in property management. We highly value Citadele’s confidence as an anchor tenant and its decision to continue operating from its headquarters in the years ahead. This transaction is a significant testament to the sustainable value of the Citadele Business Center, its advantageous location, and its ability to provide a modern, high-class working environment,” says Ieva Antanaitytė-Genevičienė, Fund Manager of Lords LB Baltic Green Fund (V).
Lords LB Baltic Green Fund (V) acquired the building in 2020. The Citadele Business Center is a Class A office complex designed by the internationally renowned Baltic-German architect Meinhard von Gerkan. The building’s key advantages include its central location, strong tenant portfolio, and a wide range of amenities, including the Citadele Conference Center, the lunch restaurant DIA 36.line, a spacious parking facility, a gym for tenants, as well as locker rooms, shower and other facilities. The building holds a BREEAM Excellent In-Use certification with the highest rating in Latvia (76.6%), which was renewed in 2025 under an updated standard, confirming the business center’s quality and sustainability strategy.
“I am pleased to announce that we have signed a long-term lease agreement for our headquarters building in Riga. After carefully evaluating several options within a comprehensive procurement process, we have decided to continue operating at our current office location and to carry out renovations of the premises. Our goal is to create a modern and thoughtfully designed working environment that promotes collaboration, innovation and employee well-being, while supporting the bank’s long-term development ambitions,” says Slavomir Mizak, Member of the Management Board of bank Citadele, Chief Technology and Operations Officer.
Companies from various sectors lease office space at the Citadele Business Center – bank Citadele, insurance company If Apdrošināšana, Deloitte Latvia, Nordic Investment Bank, technology company Vendon, as well as companies operating in legal services, consulting, IT and other industries. The tenants represent the Baltic and Scandinavian countries, Germany, and the United States.
The total area of the office building exceeds 30,000 square meters and offers extensive panoramic views of Riga and its historic center. The building consists of four identical modules complemented by rooftop gardens. It provides office and meeting spaces of various sizes, as well as a modernly equipped Conference Center with panoramic views of the Daugava River, suitable for hosting conferences, forums and seminars for up to 250 participants.
