Press release | February 3, 2026
UAB “Capitalica European Office Fund”, a Closed-Ended Investment Company for Informed Investors, managed by SBA Group’s investment management company “Capitalica Asset Management”, has launched the placement of the first tranche of a public EUR 8 million bond issue. The initial tranche aims to raise EUR 3 million to finance the development of the Class A business center “Verde” in the central Skanste district of Riga. The two new buildings will expand Riga’s commercial real estate supply by an additional 22,500 sq. m of business space.
The bonds carry an annual interest rate of 8%, with a maturity date of August 12, 2028. The nominal value of one bond, which also represents the minimum investment amount, is EUR 1,000. The subscription period will run from February 3 to February 9, 2026, with the bond issue date scheduled for February 12, 2026.
The bonds are being distributed by Artea Bank as the Lead Manager and Signet Bank as the Co-Manager.
The Fund also foresees the possibility of increasing the total bond issue amount to up to EUR 12 million in the future.
“This bond issue represents an investment in a project that has already proven its value in the market. The first phases of the ‘Verde’ project are operating at full capacity and are 100% leased, while the next stage of development two additional buildings is a natural, demand-driven step forward for us,” says Gintaras Toločka, Fund Manager.
Green “Verde” Project: EUR 150 Million Investment in Riga
At present, Buildings A and B of the green “Verde” office complex are fully operational, offering a total leasable area of 30,000 sq. m. Both buildings are fully leased and host dozens of international and local Latvian companies, including Swisscom DevOps and Worldline Latvia.
Buildings C and D will further expand the “Verde” complex by an additional 22,500 sq. m of A+ class office space, accommodating approximately 2,500 new workplaces. Construction of the third phase, Building C, is scheduled for completion in the second quarter of 2027, while construction of Building D is planned to commence next year and be completed in the second to third quarter of 2028.
Upon completion of all development phases, the “Verde” complex will offer more than 50,000 sq. m of Class A office space in central Riga, designed to accommodate approximately 5,500 employees. The total investment in the project is expected to reach approximately EUR 150 million.
Nasdaq announcement link:
https://view.news.eu.nasdaq.com/view?id=b430b0c70e4e408ad6dbcbb92cdb8ab2c&lang=en&src=notices
