Summus Capital acquires DEPO store in Imanta
One of the leading Baltic real estate investment holding groups Summus Capital has acquired DEPO DIY’s store in Riga, Latvia. This is already a second acquisition by Summus Capital in Latvia. At the end of 2020, investment company acquired also Riga Plaza shopping and entertainment center.
Summus Capital has now become the owner of DEPO DIY’s store in Imanta, Riga (located at Kurzemes prospekts 3b, Riga). Property is built in 2021 with a total floor area of 19 000 m2, and it has been built as sustainable property considering environmental impact.
It is located in a clearly visible and accessible area, which is the main shopping area in the Riga, Imanta district. The store is easily reachable from the city center by a public transport as well as by private means of transportation. It is located close to a highway that allows to reach Riga, Jūrmala, Tukums, Talsi and many other destinations.
“DEPO, as the newest store in Riga and a part of the leading DIY chain in the Baltics, fits well into our diversified portfolio. We have been preparing for this transaction for a long time. During this time, we confirmed one more time that the strategy chosen by DEPO is a good basis for a long-term lease. We also want to increase the share of DIY in the rental turnover of the portfolio in the future,” said Hannes Pihl, Member of the Management Board of Summus Capital.
The agreement has been made between a current owner SIA “New Bumani Invest” and a buyer SIA “Vikingi 2” (Summus Capital).
The value of this deal is not disclosed.