9a Citadeles Street

(owned and managed)   This unique property is located on the right side of in the historical heart of the city, on ...

1 Kungu Street

(our realized project)   Location: in the centre of Townhall Square (sole private building), the site of the Townhall ...

6 Kalku Street

(owned and managed)   Location: 6 Kaļķu Street, prime location in the busiest pedestrian and tourist area. This corner ...

16 Skunu Street

(our realized project)   Location: the building faces Tirgoņu Street, one of the busiest pedestrian and tourist streets ...

19 Skunu Street

(our realized project)   Location: this corner building faces Dome Square and is the only private building on the ...

2 Kramu Street

(owned and managed)   Location: the building faces Tirgoņu Street, one of the busiest pedestrian and tourist areas ...

2 Krisjana Barona Street

(owned and managed)   Acquired by Baltic RE Group in November 2021, the historical property at 2 Kr. Barona Street ...

25 Raina Boulevard

(owned and managed)   Location: it starts on crossing to Krisjana Valdemara Street and ends on crossing to 13. Janvara ...

Overview

HISTORY AND DEVELOPMENT

The key events in the development of the AS Baltic RE Group and its group companies are described below.

2008

Baltic RE S.P.A. is founded and enters the Latvian real property market.

2009

 Property at 19 Skunu St. (Old Riga) is purchased – a historical building located in Dome Square and being the only private building in the square. The property is renovated; after renovation works are completed it is leased to solvent and well-known tenants.

2010

Property at 1 Kungu St. (Old Riga) is purchased – a historical building located in Townhall Square. The property is renovated, increasing the retail area; after renovation works are completed it is leased to solvent and well-known tenants.

The property at 6 Kalku St. (Old Riga) is purchased – a historical building located in the most active pedestrian and tourist street. The property is renovated, significantly increasing the retail area; after renovation works are completed it is leased to solvent and well-known tenants.

2011

Property at 2 Kramu St. (Old Riga) is purchased – a historical building located in one of the busiest pedestrian and tourist areas which connects Dome Square and Townhall Square. The property is renovated, significantly increasing the retail area; after renovation works are completed it is leased to solvent and well-known tenants.

2012

Property at 16 Skunu St. (Old Riga) is purchased – a historical building facing Tirgoņu Street, one of the busiest pedestrian and tourist streets which connects Dome Square and Townhall Square.
The property was renovated and sold in 2015, however the Issuer continues to manage it.

Property at 15 Kalku St. is purchased – a historical Art Nouveau building with the status of a state-protected cultural monument in Old Riga. The property is renovated, significantly increasing the retail and the office area; after renovation works are completed it is leased to solvent and well-known tenants. It was the project that enabled the Issuer to achieve a new level in building renovation.

2013

Property at 12/14 Kalku St. (Old Riga) is purchased – a historical building close to Līvu Square located in the best commercial area of Old Riga. The property is fully renovated, significantly increasing the retail and the office area; after renovation works are completed it is leased to solvent and well-known tenants.

2014

Reorganization process starts in December in order for The Group to become the holding company of the group and, consequently, the owner of all subsidiaries.

2015

The Group’s activity is focused on extending its lines of business, improving the organisation of its work, thus ensuring stable and coordinated operation of all units of the group and the required financial support for the group’s units. The work with the group’s clients is active, as well as successful measures are taken to study, develop and implement new lines of business.

The building at 12 Kalku St. receives Latvian Construction Industry Annual Award 2015 in “Facade Renovation” nomination, as well as LANĪDA (Latvian Real Estate Association) award “The Contribution to the Improvement of Development of the Old Town, 12 Kalku St, Riga”.

Revenues (consolidated) from leases and other triple net income for 2015 reach EUR 3,241,121

2016

The Group increases its share capital by issuing new registered shares. Upon this shares issue, the Issuer’s current fixed capital is EUR 25,000,000 (twenty-five million euros).

The Group issued EUR 4 million of unsecured bonds.

2017

The building at 21 Brivibas Blvd. receives Latvian Construction Industry Annual Award 2017 in “Facade Renovation” nomination.

2018

The Group increased its share capital by issuing new registered shares. Upon this shares issue, the Issuer’s current fixed capital is EUR 29,000,000 (twenty-nine million euros).

2019

Portfolio value reached EUR 80 million

Pre-mature bond redemption of EUR 4,000,000 with premium for early redemption

2020

The Group acquired two properties – 25 Raina Blvd. and 9a Citadeles St.

The Group sold 15 Kalku St., 12/14 Kalku St. and 21 Brivibas Blvd

2021

Sale of 1 Kungu St.

Renovation of 25 Raina Blvd. with delivery to a  sole tenant Printful Latvia, AS

 Acquisition of 2 Kr. Barona St..              

 Agreement for sale of 19 Skunu St. is signed.

2022

Renovation of 9a Citadeles St.

The Group acquired two properties - the historical Riga Black balsam factory at 27 Pulkveža Brieža St., including the adjacent historical buildings, and a building at 15 Generala Radzina krastmala.

 

Our benefits

1
Real estate innovative property management
2
Commercial Real estate focus
3
Long term view and highly focused vision
4
Solid fundamentals and potential incremental value through active real estate management
5
Well based internal property management
6
Internal record-keeping and reporting activities