Alternative investment fund manager Provendi Asset Management starts the summer with an almost fully rented building at 89 Elizabetes Street and active refurbishment of properties

Gundars Sproga, Member of the Board at Provendi Asset Management, says that the strong demand can be attributed to the building’s convenient location in the very center of Riga, the complete and modern finishing of the apartments, as well as attractive rent prices for the fully furnished apartments.
Business partner Vestabalt has also provided a great contribution, operating as the building’s leasing agent and property manager.

Provendi Asset Management CEO Kristaps Bērziņš says that the number of rental apartments owned by the Fund will soon grow to 260. Ten apartments in the Fund’s rental building on Pulkveža Brieža Street are in an active rental process and the results of the first months are very encouraging. The building
is located in the so-called quiet center of Riga, with fully furnished and modern apartments available for long-term and short-term rent. The building has three blocks, so there are apartments of different sizes and layouts, with some additional benefits such as a spacious terrace or a separate exit to a fenced
green area. The Fund's property at 61 Kr. Valdemāra Street is currently undergoing final construction works, which are scheduled to be completed by the end of the summer. The historic façade of the building is being restored and the apartments will be fully equipped with everything necessary for living. The top floor of the building will have a two-story penthouse apartment, and in some of the apartments, the historic parquet, doors and decorative elements will be preserved. Potential tenants will thus have a unique opportunity to choose from the offer of a single lessor the apartment with the most
convenient location and the best views from the windows.

Regarding the shopping centres RIMI Gaiļezers and RIMI Tukums, which are owned by the Fund, Provendi Asset Management informs that preparatory works are underway to improve the energy efficiency of both shopping centers – the planned works include installation of solar panels, LED lighting and heat pumps. Rimi Gaiļezers has started the process of BREEM (Building Research Establishment Environmental Assessment Methodology) certification, the completion of which validates the building’s sustainability. In the RIMI Tukums shopping centre, it is planned to install new fire and alarm systems, increasing the security level of the shopping centre.