SG Capital Partners buy Riga office building for €6.3 million

The building, which is located in central Riga at Brivibas street 39 contains over 3,000 sqm of office and retail space. It was built in 1931 by Peter Snicker, a professor at the University of Latvia, who entrusted its design to the renowned architect Eizen Laube. While the building was fully restored in 2008, SG Partners plan to focus on ensuring the sustainability of the building, improving energy efficiency and working environment in order to obtain BREEAM certification. Of the €6.3 million purchase price, over half (€3.8 million) was financed through a long-term loan from SEB. The remainder came from capital held by SG Capital Partners.