“Provendi Asset Management AIFP” completes acquisition of office and commercial building in central Riga valued at over 4 million euros

Investment management company Provendi Asset Management AIFP has finalized the acquisition of an office and commercial property in one of Riga’s central locations – Krišjāņa Barona Street 20/22.
The transaction value exceeds 4 million euros, reaffirming the company’s strategic commitment to the development of Riga’s historic center and its long-term investment potential.

The building is located on one of the city’s most vibrant streets, with heavy pedestrian and vehicle traffic, offering excellent access by public transport and car, as well as proximity to various service, cultural, and entertainment amenities.

“We believe in the potential of Riga’s historic center – it is becoming an attractive location both for businesses and residents. Barona Street is already one of the most active streets in the city, and we are pleased to be part of its development. The historic center is a unique environment where architecture, culture, and modern business merge together, and we see it as a strong example of urban development in the entire Baltic region,” says Kristaps Bērziņš, CEO of Provendi Asset Management AIFP.

The property boasts a stable tenant portfolio, including a dental clinic, a restaurant, a private school, and a kindergarten, creating a dynamic and functional environment with a wide flow of visitors.

In recent years, several investments have been made in the building – in 2019, the facade and stairwells were renovated, and in 2024, reconstruction of the ground floor facade and restaurant premises was completed, significantly enhancing the visual and functional quality of the building.

The total leasable area of the building is 2,733 m², offering modern infrastructure for business operations in one of the capital’s most strategically important locations.