{"id":7080,"date":"2025-12-09T12:58:33","date_gmt":"2025-12-09T12:58:33","guid":{"rendered":"https:\/\/capitalica.lt\/?p=7080"},"modified":"2025-12-09T12:58:34","modified_gmt":"2025-12-09T12:58:34","slug":"capitalica-asset-management-secures-eur-19-million-loan-from-latvias-rietumu-bank-for-further-verde-development-in-riga","status":"publish","type":"post","link":"https:\/\/capitalica.lt\/en\/capitalica-asset-management-secures-eur-19-million-loan-from-latvias-rietumu-bank-for-further-verde-development-in-riga\/","title":{"rendered":"\u201cCapitalica Asset Management\u201d Secures EUR 19 Million Loan from Latvia\u2019s \u201cRietumu\u201d Bank for Further \u201cVerde\u201d Development in Riga"},"content":{"rendered":"\n<p><em>Press release, 8 December 2025<\/em><\/p>\n\n\n\n<p><strong>SBA Group\u2019s investment management company <em>\u201c<\/em><\/strong><em><strong>Capitalica Asset Management\u201d<\/strong><\/em><strong> has signed a development loan agreement with Latvia\u2019s \u201cRietumu\u201c bank. The EUR 19 million loan is designated for the construction of Building C of the \u201c<\/strong><em><strong>Verde\u201d<\/strong><\/em><strong> project, currently being developed in central Riga. Total planned investment into the newly constructed C and D buildings will exceed EUR 70 million.<\/strong><\/p>\n\n\n\n<p>\u201cSecuring construction financing at such an early stage \u2013 when an office building has not yet signed any tenants \u2013 is a remarkable achievement. Agreements of this kind are extremely rare in the Baltic region. I am confident that \u201cRietumu\u201d bank\u2019s trust only further proves the exceptional nature of the <em>\u201c<\/em><em>Verde\u201d<\/em> project, its strong market reputation, and the clear demand for it in Riga,\u201d says <em>Gintaras Tolo\u010dka<\/em><em>, <\/em>Fund Managerat \u201c<em>Capitalica Asset Management<\/em><em>\u201d.<\/em><\/p>\n\n\n\n<p>This September, <em>\u201c<\/em><em>Verde\u201d<\/em><em> <\/em>project received approvals for the third and fourth development phases in Riga in a record-short period of just three months. Both phases are designed to meet the highest BREEAM Outstanding sustainability standards.<\/p>\n\n\n\n<p>\u201cVerde is one of the most successful new office projects in Riga, and its strong performance allows us to finance its further development at a very early stage \u2013 before the attraction of tenants. In many ways, Verde has become a symbol of the new economic progress of Latvia. The project has proven that with a high-quality and well-designed product it is possible to achieve 100% office occupancy in Riga in a very short time, and we have no doubt that the new development phase will be equally successful. For the bank, this is a valuable long-term investment within our lending portfolio, which increasingly includes promising real estate development projects,\u201d says Art\u016brs Juk\u0161s, Member of the Management Board and Head of Lending at Rietumu Bank.<\/p>\n\n\n\n<p><strong>The Green \u201cVerde\u201d Project: EUR 150 Million Invested in Riga<\/strong><\/p>\n\n\n\n<p>The green <em>\u201c<\/em><em>Verde\u201d<\/em> office complex currently operates Buildings A and B, with a combined area of 45,000 m\u00b2. They already host several dozen international and local Latvian companies.<\/p>\n\n\n\n<p>Buildings C and D will expand the <em>\u201c<\/em><em>Verde\u201d<\/em> complex by an additional 37,000 m\u00b2, of which 22,500 m\u00b2 will be leasable Class A office space, accommodating approximately 2,500 new workplaces. The construction of the third phase \u2013 Building C \u2013 is planned to be completed in Q2 2027. The fourth phase \u2013 Building D \u2013 is expected to start next year and be completed in Q2 2028. The project is being implemented by the <em>\u201c<\/em><em>Capitalica European Office Fund\u201d<\/em><em>.<\/em> Once all development phases are completed, <em>\u201c<\/em><em>Verde\u201d<\/em> will offer more than 50,000 m\u00b2 of Class A leasable office space in central Riga, designed for 5,500 employees, with a total project investment reaching approximately EUR 150 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Press release, 8 December 2025 SBA Group\u2019s investment management company \u201cCapitalica Asset Management\u201d has signed a development loan agreement with Latvia\u2019s \u201cRietumu\u201c bank. The EUR 19 million loan is designated for the construction of Building C of the \u201cVerde\u201d project, currently being developed in central Riga. Total planned investment into the newly constructed C and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7080","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u201cCapitalica Asset Management\u201d Secures EUR 19 Million Loan from Latvia\u2019s \u201cRietumu\u201d Bank for Further \u201cVerde\u201d Development in Riga - Capitalica<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/capitalica.lt\/en\/capitalica-asset-management-secures-eur-19-million-loan-from-latvias-rietumu-bank-for-further-verde-development-in-riga\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201cCapitalica Asset Management\u201d Secures EUR 19 Million Loan from Latvia\u2019s \u201cRietumu\u201d Bank for Further \u201cVerde\u201d Development in Riga - Capitalica\" \/>\n<meta property=\"og:description\" content=\"Press release, 8 December 2025 SBA Group\u2019s investment management company \u201cCapitalica Asset Management\u201d has signed a development loan agreement with Latvia\u2019s \u201cRietumu\u201c bank. 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