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Akropolis Group has signed an agreement with AMD Holding for 100% Acquisition of shares of the Latvian company Delta Property. The latter company owns 9.7 hectares of land at 372 Brivibas Street and a 154,000-square-meter building. kv. METERS OF TOTAL SURFACE OF THE “ALFA” SHOPPING CENTER.
By agreement of the parties, the value of the future transaction is not disclosed, which will be completed with the permission of the Competition Council of Latvia.
According to Andrius Švolka, director of Newsec Investment Group in the Baltics, this is the largest single-asset real estate transaction (i.e. without portfolio) in the Baltic countries since 2008, when German investor Deka Immobilien acquired Kaunas Akropolis. During the tender for the sale of PC Alfa, there was considerable interest in its dominant position in the Riga market, according to a press release from Newsec.
The total area of the Alfa shopping center is 154 thousand. square meters, without parking – 94 thousand. square meters, leased business premises – 71 thousand. square meter. 1.75 thousand cars can be parked in the mall at the same time. cars and shopping in 210 stores. Alfa Center operates such popular local and international brands as Zara, Reserved, H&M, Euronics, Sportland, Kidzone, Cenuklubs.lv, Cinamon, Lido., McDonalds and other stores and services. Food and consumer goods store – “Rimi”.
Approximately 7 million. The Alfa shopping center, which receives visitors annually, was substantially renovated and expanded in 2019, with an investment of around 55 million LTL. euros.
Once the transaction takes effect, Riga will become the first city where Akropolis Group will operate two shopping and entertainment centers. 2019 The total area of the Riga Acropolis, which opened its doors, is 97 thousand. square meters, of which commercial premises are rented – 61.1 thousand, and offices – 9.75 thousand. square meter. There are about 190 stores, 2.4 thousand. parking spaces.
The counterparties must receive the decision of the Competition Council of Latvia within a maximum period of 4 months from the submission of the required documents. At the time of the transaction, Akropolis Group was advised on legal matters by the law firm TGS Baltic.
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