FORT successfully finalises Work on Transaction of Sale of Office Building “LNK Centre” in Riga
Estonia, signed a purchase contract for acquisition of “LNK Centre” in Riga. Partner Jānis Līkops, Attorney-at-Law Roberts Prūsis, Associate Liene Lāzare, as well as Assistant Attorney-at-Law Laila Pudule worked on the transaction.
The contract is concluded with SIA “LNK Properties” and SIA “FIN.LV”. The acquisition price of the property is ca. EUR 17 million. It is contemplated to close the transaction within one month as of execution of the purchase contract.
LNK Centre is a class A office building with floor area of 7455 square meters, and the property is located in Skanste District, Riga. It is delivered in leasehold altogether to five tenants, of which “Exigen Services” and “LNK Grupa” occupy approximately 90% of the floor area. Pursuant to the transaction terms, “LNK Grupa” will extend the lease contract for ten years.
According to the archives of news agency LETA, in September 2015, the former headquarters of joint-stock company to be liquidated AS “Latvijas Krājbanka” in Riga, Jāņa Daliņa iela 15, was acquired by SIA “JD 15”, a company founded by holding “LNK Group”, for EUR 10,516,200 and was renamed as of that time as “LNK Centre”. “LNK Centre” building was put on free sale because two auctions held for it failed. The starting bid at both auctions of this real estate was EUR 11.5 million.