Retail Property Fund acquires first investment in Riga
Retail Property Fund managed by Nuve Partners acquired its fifth neighbourhood shopping centre at the end of 2018. The acquisition is an important milestone as it is the fund’s and Nuve Partners’ first investment outside Estonia.
The shopping centre is located in the heart of densely populated Imanta district Riga, the capital of Latvia. The shopping centre of Anniņmuižas is the main venue for everyday shopping and use of services for the surrounding residents. The building has two strong anchor tenants: Rimi, Latvia’s largest grocery retailer, and MyFitness, a popular gym chain.
The strength of the investment is the good location in a densely populated district and a well-functioning tenant pool.
About Retail Property Fund
Retail Property Fund is specialising in investing in neighbourhood shopping centres and grocery stores in the Baltic countries of Estonia, Latvia and Lithuania. The total volume of the fund’s investments will amount to €100 million with a time period of 20 years. The anchor investors in the fund are Swedbank pension funds, the biggest provider of pension solutions in Estonia.
