“Provendi Asset Management” strengthens management of four properties in Latvia, enhancing development and service quality

Alternative investment fund manager Provendi Asset Management, which manages the Indexo Real Estate Fund, has implemented significant changes in the management structure of four properties located in Latvia. These changes aim to improve management efficiency, increase property value, and raise the quality of services provided to tenants and visitors.

Following a procurement process, a new property management partner has been appointed for each of the four properties managed by Provendi Asset Management, taking into account the specifics of each asset and its strategic positioning.
The shopping centers Gaiļezers and Tukums Rimi will now be managed by representatives of Colliers Baltic. The management of the Olimpia shopping center has been entrusted to Riga Norge Ltd., while the property at Krišjāņa Barona Street 20/22 in Riga will be managed by CPB Real Estate Services Ltd.

“When selecting new management partners, our priorities included their professional reputation, local market experience, planned costs, and ability to provide high-quality service to our tenants. These collaborations will enable a more detailed approach to managing each asset according to its specific characteristics and market position. Regularly reviewing and changing property managers is part of our long-term strategy – to enhance property value, ensure sustainable development, and strengthen the fund’s reputation as a reliable investor in the Baltic region,” says Kristaps Bērziņš, CEO of Provendi Asset Management.

These changes are part of Provendi Asset Management’s long-term approach – working with professional local partners who are capable of delivering dynamic, results-oriented property management while maintaining a focus on sustainability and long-term value preservation.

The Indexo Real Estate Fund portfolio in Latvia includes several strategically important commercial properties with a stable tenant base and strong development potential, with a total portfolio value of approximately 120 million euros.
The fund’s strategic goal is to ensure attractive long-term returns for investors while maintaining high standards of quality and management.