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 ...

News

Baltic RE Group’s property “The Icon” received BREEAM Excellent certification
23.01.2023
The Icon - the landmark office building at 25 Raina Boulevard realized by AS Baltic RE Group, currently hosting the HQ of AS Printful Latvia - has received the BREEAM In-Use certificate with the score 'Excellent'. BREEAM In-Use is the internationally recognized green building rating system for determining the sustainability performance of buildings. The world widely recognized BREEAM In-Use certificate rewards criteria in no fewer than 9 assessment categories (energy, water, transport, land use and ecology, pollution, resources, resilience, exemplary, health and well-being).

Sustainably managed premises can achieve substantial savings in energy, water use and reduce the overall running costs of a building. In general, a guiding framework such as BREEAM, besides taking into consideration operation of the building, consumption of key resources such as energy, water and other consumables, also promotes sustainability in the fields of building’s tenants’ health and wellbeing material choices.
Giovanni dalla Zonca, CEO and Founder at Baltic RE Group says: “This is a point of honor for the company and for our whole team. Sustainability has always been a principle for Baltic RE Group: over the past few years, we have followed a path towards increasing sustainability and attention to both the environmental impact of our buildings and the well-being of people in the workplace. After the recent successful conversion of our entire property portfolio to the exclusive use of green energy, the recently received BREEAM Excellent certification further confirms the company’s mission.”
Baltic RE Group has been supported in the certification process by UAB Vesta Consulting, the Baltics’ leader in providing sustainability solutions in the frame of a long-term partnership which includes constant professional advice on sustainability solutions.
Baltic RE Group is a real estate investment company specializing since 2008 in the purchase and management of high-quality real estate properties. As one of the leaders in the Baltic premium segment real estate market, Baltic RE Group implements the best standards of environmentally friendly solutions available on the market in its buildings, which contributes to the wellbeing of the users of these areas.

Baltic RE Group acquires a new landmark office property on the river Daugava bank
28.11.2022
AS Baltic RE Group – the experienced real estate investor that specializes in the creation and subsequent realization and management of value-added and core portfolios in the Baltics – has bought an office property on the bank of the Daugava, at 15 Ģenerāļa Radziņa krastmala, Riga.

The property has a total area of over 4,000 m2. The 7-storey large building stands with an adjoining land plot of 1,770 m2 for parking and green area.

On the roof of the building large terraces with an incomparable view of the river Daugava will be built and furnished with plants and trees, creating a beautiful place for relaxation.

Giovanni dalla Zonca, Founder and CEO of Baltic RE Group, says: “We are extremely excited by this acquisition which will allow us to create a landmark building of modern offices and with an interior design of the highest level.

The eye-catching building, surrounded by greenery, overlooks the river Daugava and is equipped with great terraces with a spectacular view of the river. And all this can be found in a truly exceptional location, in the very heart of the city and just a few minutes' walking distance from either the train station and the Old Town.

We will create something unique here, making this building one of the most fascinating properties of the entire city.”

AS Baltic RE Group is a real estate investment company specializing since 2008 in the purchase and management of high-quality real estate properties. As one of the leaders in the Baltic premium segment real estate market, Baltic RE Group implements the best standards of environmentally friendly solutions available on the market in its buildings, which contributes to the wellbeing of the users of these areas.

Baltic RE Group subsidiary completed the private placement of EUR 3 million of profit-sharing bonds at 2.25% yield
17.06.2022
SIA Baltic Re Properties, a fully owned subsidiary of AS Baltic RE Group, has completed the private placement of corporate Step-up Profit Sharing Bonds. The total face value of the issue is EUR 3,000,000.00 and it shall be used up for turn-around of the property at 2 Kr. Barona Street, Riga, that has been recently acquired, as well as for acquisition of new properties that align with the Group’s strategy. The bonds are unsecured and have a 5 years maturity, with an annual coupon fixed at 2.25% plus a potential additional variable Step-up Interest Rate Increase up to 2.50%, conditioned to reaching Target Revenues by the Issuer.

AS BluOr Bank acted as issuing agent.

AS Baltic RE Group already benefits from a positive track record, having issued in 2016 corporate bonds securities, then listed on Nasdaq Baltic. Those bonds included a call premium in the event of early redemption, and the entire issue was redeemed before the maturity by paying the call premium to all bondholders.

Giovanni dalla Zonca, Founder and CEO of Baltic RE Group, says: “We are extremely proud to have completed the placement of bonds with such innovative terms for the Baltic market. The Step-up Profit Sharing mechanism allows a virtuous division of economic success between issuers and bondholders and defines a solid chance of diversifying sources of financing.

There are interesting investment opportunities in the real estate industry which can be brilliantly and successfully served by a qualified bond market”

AS Baltic RE Group is a real estate investment company specializing since 2008 in the purchase and management of high-quality real estate properties. As one of the leaders in the Baltic premium segment real estate market, Baltic RE Group implements the best standards of environmentally friendly solutions available on the market in its buildings, which contributes to the wellbeing of the users of these areas.

Baltic RE Group signed a long-term advisory agreement with Vesta Consulting to implement a full “go green” strategy
11.04.2022
In the beginning of 2022 AS Baltic RE Group (Baltic RE Group) and UAB Vesta Consulting (Vesta) signed a long-term partnership agreement in regards to professional advice on sustainability solutions for real estate development and also for attesting the achievement of the sustainability objectives with particular reference to certification system of International green building standards.

In this frame, after a first set of targets foreseen to be reached in the next 6 months, Vesta will assume the role of Strategic Sustainability Advisor for Baltic RE Group and its subsidiaries.

Evaldas Savickis, Founder and CEO of Vesta shares: “An approach to the business perspective is a hallmark of sustainable business. A sustainable organization always evaluates its activities and their impact on the environment in the long run - it is important for it to create value for the company as well as for society, employees, business partners, the community and other stakeholders, without excluding one key. It is no longer enough to write that you are sustainable, safe, environmentally friendly - you need to prove it. We are honored to have the opportunity to collaborate with Baltic RE Group.”

Vesta is the leader advisor in the Baltics in providing sustainability solutions and engineering services in the building and property management process, creating healthy environment and increasing return in the long-term. Vesta is the sole Baltics’ player entitled to issue all BREEAM, LEED, EDGE, WELL and FITWEL certification of buildings and shall support AS Baltic RE Group in the challenges of becoming more sustainable, that is the core strategy of the Company, with an additional focus on optimized energy efficiency.

Giovanni dalla Zonca, Founder and CEO of Baltic RE Group says: “We are proud to cooperate with a market leader like Vesta, whose undisputed high level professionality and experience will support us in implementing our strategy. That is why we were looking for a long-term cooperation and that is why we wanted with us the best player in the Baltics. Baltic RE Group is planning to invest and the main investment guideline - both in the choice of properties and in the renovation/reconstruction criteria – will be relating to environmental sustainability and employee well-being criteria.”

Baltic RE Group is a real estate investment company specializing since 2008 in the purchase and management of high-quality real estate properties. As one of the leaders in the Baltic premium segment real estate market, Baltic RE Group implements the best standards of environmentally friendly solutions available on the market in its buildings, which contributes to the wellbeing of the users of these areas.

Baltic RE Group acquires the historical buildings of the old Rīga Black Balsam Factory
15.03.2022
AS Baltic RE Group – the experienced real estate investor that specializes in the creation and subsequent realization and management of value-added and core portfolios in the Baltics – has bought from Orkla Eiendom the Riga Black Balsam historical factory at 27 Pulkveza Brieza Street, where Albert Wolfschmidt started to manufacture the world-famous herbal balsam. The building was built in 1847 according to a project in the development of which such exceptional Latvian architects as Gustav Winkler, Carl Felsko, Wilhelm Bockslaff were involved.

Covering an area of more than 1.5 hectares, there are several buildings with a total GBA of more than 17 000 sqm, including the monumental 5-storey factory with its extraordinary brick facade.

Giovanni dalla Zonca, Founder and CEO of Baltic RE Group, says: “We see the tremendous potential in the opportunity to give new life to a building that is unparalleled and deserves to be returned to the city. It is a privilege and a responsibility. The old Rīga Black Balsam factory is of exceptional architectural beauty, with a wonderful facade that amazes us every time. The building is surrounded by greenery, overlooking the park of Viesturdārzs from which you can enjoy a spectacular view of the building. We deeply feel the challenge of creating something unique here. In addition, the old factory is perfectly inserted in the new district around Skantes Street where the real CBD of Riga is finally being built thanks to important and quality investments. I am convinced that the extraordinary charm of the building will make it one of the landmark properties of the district and of the entire city.”

Baltic RE Group was advised in the transaction by Ecovis Convents Law Office, while the seller was advised by Ellex Klavins.

AS Baltic RE Group is a real estate investment company specializing since 2008 in the purchase and management of high-quality real estate properties. As one of the leaders in the Baltic premium segment real estate market, Baltic RE Group implements the best standards of environmentally friendly solutions available on the market in its buildings, which contributes to the wellbeing of the users of these areas.

Baltic RE Group will be fully “powered by green”
09.02.2022
AS Baltic RE Group took the strategic decision to abandon the use of fossil fuel energy in its buildings. Such a decisive turning point is a part of the company's strong commitment to pursue the highest standards of sustainability, through a shared effort with its tenants and suppliers towards a better-quality environment and life in general.

From October, 2021, the whole portfolio of Baltic RE Group is powered by green electricity, whose production process uses entirely renewable energy resources. The green energy used by Baltic RE Group is provided by AS Latvenergo and fully certified by attestations proving the origin of electricity. The certification is issued by the Latvian Electricity Transmission System Operator, as formal Guarantee of Origin that is compliant with the European Energy Certificate System for electricity generated from renewable energy sources.

Giovanni dalla Zonca, Founder and CEO of AS Baltic RE Group, says: “I can’t avoid saying we are proud of how the company’s sustainability philosophy is supported by our tenants and partners. The electricity we use in our properties originates 100% of Latvia's renewable energy resources. I wish to specially thank our Property Management team as they teach me a lot, and I feel they are a true driving force of our strategy:  they are young, smart and energetic, highly committed in conserving energy and happy to raise awareness in the market about environmental issues through green thinking. I feel honored to work with them and contribute to the environment by taking significant steps towards the greenest future today.”

 

Didzis Zālītis, Head of Corporate Customer Relations at AS Latvenergo states:

"We are pleased that one of the leading companies in the industry - AS Baltic RE Group - has chosen to supply all its buildings only with renewable electricity produced by the leading green energy company in the Baltics. In this way we care about the future of our planet, which is becoming an increasingly important and urgent task nowadays, and we are proud that the views of the Baltic RE Group coincide with our philosophy of sustainability and respect for the environment, choosing Elektrum as a stable long-term partner.”

AS Baltic RE Group is a real estate investment company specializing since 2008 in the purchase and management of high-quality real estate properties.

As one of the leaders in the Baltic premium segment real estate market, Baltic RE Group implements the best standards of environmentally friendly solutions available on the market in its buildings, which contributes to the well-being of the users of these areas.

Baltic RE Group and Regional Investment Bank signed a 6.5 million loan facilities
26.01.2022
Baltic RE Group’s SPV subsidiaries and the Regional Investment Bank (RIB) have signed an agreement for a medium-term loan in the amount of EUR 6.5 million for the partial refinancing of the renovation works of two properties in Riga – at 25 Raina Boulevard and 2 Kramu Street.

Giovanni dalla Zonca, founder and CEO of Baltic RE Group: “We are very satisfied with this first step of a collaboration that will certainly develop in the years to come. We have worked with RIB in a largely satisfactory way to develop a financial solution that takes into account the unprecedented characteristics of volatility that all markets - including real estate industry - are experiencing today. In times when important strategic choices are made, the meaning of partnership that we have shared with RIB is precisely that of understanding together the potential dynamics of the years to come and preparing the most suitable tools to successfully face them.

We are glad that among the cornerstones of this collaboration, in which we strongly believe, is the fact that we underline a common sensitivity towards sustainability. All of our new development projects will focus on the use of materials and solutions for the well-being of the environment and of the people who will work in our buildings. It takes investments and passion. We have shared this approach with RIB, and we are happy with their willingness to support us along this path in the long term. For Baltic RE Group, the financial objective still remains to find efficient and flexible solutions, maintaining an extremely prudent criterion which - following the signing of the RIB loan - currently sees an LTV on the portfolio still lower than 20%.”

Armands Kokainis, Head of the Business Service Department of the Regional Investment Bank: “Baltic RE Group is one of the most influential players in the real estate industry due to its forward-looking approach and genuine desire to create value in the long run. We highly appreciate that our client cares about the environment and social welfare, which clearly meets the bank's core values and standards. When cooperating with clients, we pay attention to the future perspective, so that the projects would contribute not only to Latvia’s economy, but also promote the well-being of the society. Today the importance of the working environment has grown significantly, and entrepreneurs are ready to invest more to provide their employees with increasingly favourable working conditions. Therefore, we are happy to support companies that are able to develop, update and address sustainable development issues in the direction of climate neutrality.”

The Regional Investment Bank started its operations in 2001. It was the seventh largest bank in Latvia in terms of assets as on June 30, 2021. The total share capital of the bank is EUR 32.33 million and its largest shareholder is SIA SKY Investment Holding (37.4%). Other institutional and private shareholders do not own more than 20% of shares each. The unaudited profit of the Regional Investment Bank in the first nine months of 2021 reached EUR 1 893 161.

Baltic RE Group is a real estate investor which has been specializing in the acquisition and management of high-quality real estate since 2008. As one of the market leaders in the Baltic premium property segment, Baltic RE Group implements the best environmental sustainability standards available on the market in its buildings, which also improves the well-being of those who use these buildings.

Baltic RE Group acquired an historical building at 2 Krišjāņa Barona Street, to implement the stage 2 of The Icon concept
15.11.2021
AS Baltic RE Group – the experienced real estate investor that specializes in the creation and subsequent realization and management of value-added and core portfolios in the Baltics – has acquired an historical property located in Riga city centre at 2 Krišjāņa Barona Street (former “Palazzo Italia”). The building was built in 1881 by the Latvian architect Jānis Fridrihs Baumanis, one of the most prolific architects of the second half of the 19th century.

The over 4,000 sqm large 6-storey building stands with its prestigious historical facade in the very city centre of Riga, and is adjacent to The Icon, the new office building at 25 Raiņa Boulevard that Baltic RE Group has just handed over for rent to AS Printful Latvia, after a completerenovation.

“2 Kr. Barona Street constitutes the second stage of The Icon project, which saw the reconstruction of a landmark building according to the most modern environmental sustainability criteria, with the latest generation systems to ensure the highest environmental quality.

In this sense, it is a further step in the Company's strategy, increasingly focused on creating true well-being in innovative buildings entirely powered by green energy generated from the local renewable energy resources, meeting energy efficiency requirements.

The property at 2 Kr. Barona Street will be completely renovated in cooperation with the Italian architect Adriano Castiglioni, who will take care of the design coordinating it with what has already been created in The Icon,“ says Giovanni dalla Zonca, Founder and CEO of Baltic RE Group.

AS Baltic RE Group is a real estate investment company specializing since 2008 in the purchase and management of high-quality real estate properties. As one of the leaders in the Baltic premium segment real estate market, Baltic RE Group implements the best standards of environmentally friendly solutions available on the market in its buildings, which contributes to the wellbeing of the users of these areas.

AS Baltic RE Group delivers a new office for AS Printful Latvia
10.11.2021
One of the most prominent Latvian “unicorn” company AS Printful Latvia is planning to expand into a newly renovated office space in the building of AS Baltic RE Group at 25 Raiņa Boulevard in Riga. The success of a local start-up is skyrocketing. In 2013 the visionary entrepreneurs started to work with a strong belief in the business idea, which resulted in USD 208 million net revenue in 2020. This business approach of striving for the best has driven the owners to choose this building at 25 Raiņa Boulevard, which meets the highest quality and sustainability standards.

The building was built in 1972 upon the project of Olgerts Ostenbergs, the Latvian architect who was famous for his elegancy and light interior designs even in the times of the strict Soviet architectural standards. Baltic RE Group ensured a complete renovation of the building in cooperation with the Italian architect Adriano Castiglioni. While renovating the building, Baltic RE Group followed the company’s strategic focus on sustainability and person-centered approach, introducing the latest technological solutions to meet the best environmental and human wellbeing standards. 

The building is fully powered by green energy generated from the local renewable energy resources, and it meets the energy efficiency requirements.
The premises are equipped with the latest generation centralized drinking water system to grant the highest level of water purification, powerful air recovery equipment, UVC lamps, and air ionizators, limiting the risks of spreading viruses and allergens. The electric charges for cars have been installed outside the building and a bicycle storage has been created inside the building to support sustainable mobility. The comfort of tenants will be ensured outside the building in a cozy urban garden in front of the building, covering the area with green plants and giving employees an area outside the building to relax and have a break. 

The building has been named “The Icon”, to mark a new landmark in the architectural panorama of the city, and in over 3,000 m2 it offers a spacious and modern office area with more than 200 ergonomic workplaces, meeting points, and rooms for relaxation, a café for employees, as well as a 400 m2 rooftop area.

“We are happy to have realized this ambitious project for a not less ambitious and reputable company as Printful, which has chosen to establish
its office in our property. In The Icon, we have succeeded in creating sustainability and setting up a productive environment for new ideas in the
workplace. With Printful, we share common values, which have resulted in an innovative building that is both environment and human-friendly. With such good partners and shared efforts, we can make a new generation of buildings and introduce new, environmentally friendly solutions of living in them,” emphasizes Giovanni dalla Zonca, Founder and CEO of Baltic RE Group.

“The existing Printful offices are located in a natural, green environment. When we move into the new office in the city center, we’ll create a green outdoor space in the front of this building as well. This way, we’ll also contribute to creating Riga, a people-friendly city,” comments Davis Siksnans, Co-Founder and CEO of Printful Latvia.

Printful is the first Latvian unicorn company - valued at over $1 billion. It is an on-demand printing and fulfillment company that helps people turn their ideas into brands and products. The company fulfills and ships more than 300 different products to customers worldwide. In 2020, the Printful Inc subsidiary Printful Latvia had a turnover of 47.2M euros and paid 5M
euros in taxes. More than 600 professionals work at Printful offices in Riga, Cesis, and fulfillment centers in Marupe. Printful employs more than 1,800 people worldwide.

Baltic RE Group is a real estate investment company specializing since 2008 in the purchase and management of high-quality real estate properties. As one of the leaders in the Baltic premium segment real estate market, Baltic RE Group implements the best standards of environmentally friendly solutions available on the market in its buildings, which contributes to the wellbeing of the users of these areas.

Baltic RE Group, AS announces the early redemption of the Bonds
12.12.2018
Baltic RE Group, AS (the “Company”) hereby announces that the Company will make an early redemption of all outstanding bonds with ISIN LV0000802197 (the “Bonds”) in accordance with the terms and conditions of the Bonds prospectus.

The early redemption date is set to December 12, 2018. In accordance with the terms and conditions of the Bonds prospectus, Bonds will be redeemed at an amount equal to 101.50 per cent of the nominal amount of the Bonds (i.e. EUR 1’015 per Bond). The scope of the redemption is 100% of all Bonds issued, to optimize the financial structure of the Company, having negotiated alternative long-term sources of finance on more favourable terms.

The redemption amount will be paid to each Bonds holder, the bondholder list will be fixed according to the terms and conditions prescribed in the Bond’s prospectus (5th working day before the redemption day).

In connection with the redemption, Bonds will be delisted from Nasdaq Riga.

Baltic RE Group, AS agreed on long term portfolio loan facility for Eur 35.3 million with Luminor Bank, AS
22.11.2018
On 22 November 2018 Baltic RE Group, AS (the Company) signed a new loan agreement for an amount up to Eur 35’300’000,- with Luminor Bank AS, destined to the immediate repayment of the outstanding exposure with ABLV Bank, AS in liquidation and for the early redemption of the Company bonds (Securities ISIN code LV0000802197) listed on Nasdaq Baltic Bond List (up to the amount of Eur 4’100’000,-), on which the Company’s Board shall take the necessary decision on relevant redemption date in the close future, in compliance with the provision of the Prospectus.

Moreover, the Loan can also be used for the purchase of minority holdings held in Company’s subsidiaries (up to the amount 900’000,-).

The maturity of the above mentioned loan is 5 years with monthly repayment in accordance with 20 year schedule. 

With Luminor Bank a positive sharing of objectives and a qualitative and prudential approach to the real estate market was found. Baltic RE Group, AS is proud to announce this new strategic partnership that will support the Company in its development strategies for years to come.

Baltic RE Group AS increase of share capital
04.10.2018
On October 4, 2018 AS Baltic RE Group (hereinafter – the Company) held an extraordinary stockholder’s meeting, where were made decisions about increasing Company’s share capital and appropriate amendments in Company’s statute.

The new subscribed Company’s share capital after increasing of share capital is EUR 29 million.

The new financial resources enable the Company to continue its investment strategy focused on the purchase of landmark properties in the Baltic region while maintaining prudential financial ratios.

The notification about Baltic RE Group, AS operation in relation to events related to ABLV Bank, AS.
19.02.2018
Activity of Baltic RE Group, AS is not affected by the restrictions imposed on ABLV Bank, AS by Financial and Capital Market Commission, and they do not affect, limit or anyhow restrict full execution of obligations undertaken with bonds issued by Baltic RE Group, AS and listed in Baltic Bond List of Nasdaq Riga.

Baltic RE Group, AS and its subsidiaries have presently in total 8 current accounts with ABLV Bank, AS and the total deposited sums was not exceeding EUR 100,000 at the moment of imposed restrictions, so being fully protected in accordance with the deposit guarantee fund in place in Latvia.

To secure smooth daily operation and to ensure the complete absence of any consequence in the ordinary management Baltic RE Group, AS and group’s subsidiaries are currently using their current accounts in other commercial banks in Latvia. About this, on February 19, 2018, Baltic RE Group, AS got official authorization from ABLV Bank to unreservedly use such accounts until the situation with ABLV Bank, AS is stabilized.

All tenants of the properties owned by Baltic RE Group, AS and group’s subsidiaries are not related to ABLV Group.

Change of financial year of Baltic RE Group’s subsidiaries
31.10.2017
Being completed the reorganization and rationalization process of the Group structure, AS Baltic RE Group has decided to modify the closing date of the subsidiaries' financial year, which will end on 31st of October of each year.

This decision is taken in order to align the annual balance sheet of the subsidiaries with the seasonality of a part of the revenues from retail lease, thus simplifying the mother company’s preparation of the Group’s financial statements and allowing to receive and represent in same financial year Baltic RE Group’s balance sheet the subsidiaries’ dividends, in the meanwhile improving the process of preparing the budget.

The financial year closing date of AS Baltic RE Group will remain unchanged at 31st of December of each year.

 

AS Baltic RE Group informs about changes in Group’s structure
27.10.2017
In the light of improving operative efficiency, with consequent cost savings, on 27th October 2017, AS Baltic RE Group will complete the process started in 2016 to rationalize the group's structure.

Following the acquisitions of shares (75% of Key 1 SIA for EUR 8 505 000, 67% of Key 15 SIA for EUR 6 518 000, 100% of Key 2 SIA for EUR 1 310 000 and 48,34% of Key 6 SIA for EUR 1 361 964) through intercompany agreements , AS Baltic RE Group will own directly all participations in its subsidiaries. The settlement of the purchase price shall be performed compensating subsidiaries’ due amounts to the mother company.

Completion of merge procedure for subsidiaries of Baltic RE Group AS
09.08.2017
AS Baltic RE Group informs that on August 9, 2017 has been received the final positive decision from the Register of Enterprises of Latvia about the merge of 100% controlled Italian Company Baltic RE S.p.a. with its subsidiary Skunu 19 so completing all the procedures and formalities required by the Latvian laws and regulations.

The company resulting from the merge shall be Baltic RE Group AS subsidiary SIA Skunu 19. Due to that Baltic RE Group AS has full ownership of both merged subsidiaries, there will be no any financial or capital dilution effect for the controlling company. The merge is a further step in announced process of simplifying the Baltic RE Group AS Concern structure, in the light of improving the operational and financial efficiency.

AS Baltic RE Group announces reorganization of its subsidiary Baltic RE S.p.a.
31.07.2017
AS Baltic RE Group starting from February 2017 plans to improve AS Baltic RE Group Concern structure and as a result AS Baltic RE Group's subsidiary Baltic RE S.p.a will be reorganized and added to its subsidiary SIA Skunu 19. As a result of the reorganization AS Baltic RE Group will gain direct control of the Baltic RE S.p.a subsidiary SIA Skunu 19.

The merger will have no impact on financial structure and will not cause any capital dilution effect as the companies involved in the process are (directly or indirectly) fully owned by AS Baltic RE Group.

AS Baltic RE Group plans to complete the reorganization till July 31, 2017.

AS Baltic RE Group concluded an additional agreement with ABLV Bank for increasing the portfolio loan amount to 31 million EUR
26.06.2017
On June 26, 2017, AS Baltic RE Group (hereinafter - the Company) concluded an addendum to the existing portfolio loan agreement with ABLV Bank AS for increasing the loan amount to 31 million EUR.

The new loan was negotiated following the acquisition - through the purchase of 91.1% of SIA Ter Properties - of the real estate located on Brivibas Boulevard 21. In the framework of the best financial efficiency, the debt for the purchase and the renovation of the Brivibas Boulevard 21 property was therefore included in the existing loan, which was then transformed into a new fixed rate portfolio loan for the total amount increased to EUR 31,000,000. With the additional loan received from ABLV Bank AS, the Company has fully refinanced the new subsidiary SIA Properties (registration number 40103881878).

Baltic RE Group AS increase of equity capital
18.05.2017
On May 18, 2017 AS Baltic RE Group (hereinafter – the Company) held an extraordinary stockholder’s meeting. In meeting decisions were made about increasing Company’s equity capital and approval of the rules of increase, about converting part of the stocks from registered stocks to bearer stocks, about appropriate amendments in Company’s statute.

Baltic RE Group AS equity capital shall be increased by issuing 5’000’000 new register voting shares. According to the approved terms of increase of equity capital, the sale price of one share will be EUR 1.10. In the result of new issue, the Company’s equity will increase by EUR 5’500’000.

The new subscribed Company’s share capital after increasing of share capital will be EUR 30 million, which will consist of 19’500’000 voting registered stocks and 10’500’000 voting bearer stocks.

The new financial resources will enable the Company to continue its investment strategy focused on the purchase of landmark properties in the Baltic region while maintaining prudential financial ratios.

Additional information to AS Baltic RE Group notice published on 2 May 2017 about acquisition of SIA TER Properties shares
02.05.2017
On May 02, 2017 AS Baltic RE Group announced, that on April 26, 2017 AS Baltic RE Group achieved to acquire 4’100’000 shares of SIA TER Properties (registration number 40103881878), corresponding to 91.11% of the nominal share capital of EUR 4’500’000.

According to purchase agreements, the price of the acquired shares is EUR 5’330’000, of which AS Baltic RE Group already paid 3’799’700 EUR, as the advance payment of the acquisition price. The residual amount will be paid until July 31, 2017.

As the result of the acquisition process, SIA TER Properties will be included in the structure of the Group together with other AS Baltic RE Group subsidiaries.

The acquisition of SIA TER Properties’ control is the first step in developing AS Baltic RE Group strategy to expand its range of activity by investing in properties with high standard and extraordinary historical quality in the neighbouring of the Old Town and the Quiet Centre of Riga.

SIA TER Properties information about turnover, net profit or loss, dividends paid:  

 

 

Year 2015

Year 2016

Net turnover

0

887 987

Profit or loss of financial year

-19 264

9 379

Share capital

3 000

3 200 000

Equity

-16 264

3 190 115

Paid dividends

No

No

 

In the beginning of the year 2017 the share capital of TER Properties SIA has increased to 4’500’000 EUR.

There is no court or arbitration procedures, which may materially influence the Company’s commercial activity.

Between SIA TER Properties and AS Baltic RE Group is not concluded significant agreements.

SIA TER Properties has been founded on 19 March 2015 as holding company. SIA TER Properties core business activity is management and strategic development of its subsidiaries. On February 08, 2016 SIA TER Properties became the sole (100%) owner of company SIA BB 21 (registration number 4010394039), which owns the historical building in Riga, Brīvības boulevard 21.

The building – perfectly located in one of the best retail locations in Riga in the busiest pedestrian and tourist area - was built in 1876 based on project of Janis Fridrihs Baumanis (1834-1891). In 1928, architect P. Mandelstam completely redesigned the facade, transforming the building in the luxurious Hotel Imperial which at the time was the most prestigious in Riga.

Currently the main tenant of the retail portion of the building is “Podium”, one of the largest luxury multiband clothing store in the Baltics (with a surface of over 2’000 sqm on 2 floors), while the office portion of the property are in the process of reconstruction which will bring the property back to the old glory.

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