The Indexo Real Estate Fund, which is managed by Latvia’s alternative investment fund manager Provendi Asset Management, has invested more than EUR 3.6 million in renovating a rental building in Krišjāņa Valdemāra Street in Riga, a representative of the fund has told LETA.
The building has a total floorspace of 2,868 m2.
The building at Valdemāra Street 61 was built in 1914. It has been fully restored with the preservation of authentic details such as high ceilings, large Art Nouveau windows, and bay windows.
People will have access to flats of various sizes in the building – studios from 17 to 45 m2 and one-bedroom flats with 34 to 59 m2.
Staircases in the building have been fully restored, high-speed lifts have been installed, and so have security access systems with video surveillance. All flats in the building have fitted kitchens and wardrobes, and interior designers were brought in to help with the refurbishment of the living spaces.
315 m2 of retail space will be available for lease on the ground floor of the building.
Indexo controls six properties in Latvia and Lithuania with total floorspace of more than 42,000 m2 and more than 100 commercial tenants. The fund also owns 261 flats in residential properties in downtown Riga.
The Indexo Real Estate Fund’s aim is to invest in high-quality and low-risk real estate in the Baltic States, including office, retail, logistics and industrial buildings which guarantee steady cash flow.
Provendi Asset Management, in turn, is an alternative investment fund manager that is registered with the Bank of Latvia.
Source: BNS
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