Walless has advised Depo DIY on the sale of the building housing its Depo outlet in Riga to the Summus Capital group through a share transaction.
The acquired property is located in Imanta, Riga, and was built in 2021 with a total area of 19,000 square meters.
Depo DIY is a do-it-yourself retailer in Latvia. Established in 2013, Summus Capital is a real estate investment holding group with investments in commercial real estate in Baltic countries.
"Depo, as the newest store in Riga and a part of the leading DIY chain in the Baltics, fits well into our diversified portfolio," Summus Capital Management Board Member Hannes Pihl commented. "We have been preparing for this transaction for a long time. During this time, we confirmed one more time that the strategy chosen by Depo is a good basis for a long-term lease. We also want to increase the share of DIY in the rental turnover of the portfolio in the future."
The Walless team included Partner Zane Eglite-Fogele.
Walless did not respond to our inquiry on the matter.
