Ellex Klavins has advised commercial real estate fund SG Capital Partners Fund I KS on the acquisition of the SWH Office complex in the central business district of Riga from JSC SWH Grupa. SWH Grupa was advised by Fort Legal.
Additional transaction terms, including the price, were not disclosed.
According to Ellex, the SWH Office office complex consists of eight buildings and after renovation will have 40 thousand square meters of leasable space and 850 parking places located on more than four hectares freehold land plot.
SG Capital CEO Harijs Svarcs said, “the office complex is a good addition to the nearby Duntes Nami office building, [which]we acquired in June this year. Altogether it becomes the largest office complex in Riga with excellent CBD location, impressive scale, and more than 25 thousand square meters of further development potential.”
SG Capital Partners Fund I KS is a commercial real estate fund managed by investment management company SG Capital Partners AIFP (SG Capital). The fund makes investments in cash flow generating retail and office real estate projects in the Baltic states.
The Ellex Klavins team was led by Partner Ivars Pommers and included Partner Inita Jurka and Associates Ineta Kanepe and Zane Miglane.
The Fort Legal team consisted of Associate Partner Uldis Judinskis and Senior Associate Edgars Turlajs.