Real estate and renewable energy investment company Grinvest purchased t / c Olympiad In Riga from an investment company Partners Group a Northern Horizon Capital joint venture Laurus, which was established for investments in commercial properties in the Baltic region.
This year, the new owner of the shopping center Olimpia intends to start an extensive renovation of the shopping center, modernizing the retail space and creating a recreation and entertainment park.
Also a company Grinvest has also purchased an office complex Unicentrs Valdlauči, whose sole tenant is SEB banka.
«T / c Olimpia and its surroundings are expected to undergo significant changes. The development projects planned for the next five years, which have already received funding, will significantly increase the intensity of public life and the flow of people in this area. Therefore, in the first half of next year, as soon as the situation caused by the pandemic returns to normal, we will resume t / c at full capacity. Olympiad retail and leisure services, »informs Grinvest partner Tomas Milašauskas.
T/c Olympiad the renovation will be carried out in several stages. The first stage envisages the reconstruction of the second floor, which will be fully completed and open to visitors in the first half of 2021. In order to meet the growing demand of the Riga Technical University campus and provide new opportunities for the visitors of the shopping center, along with a diverse range of sports, leisure and family goods stores, the catering area will be expanded and improved here. In turn, in 2022 – 2022, the first floor of the shopping center will be renovated.
T/c Olympiad total sales area is about 25,000 square meters, its largest tenants are RIMI hypermarket, Sports Direct a MyFitness.
Grinvest is a private investment company with Baltic capital, which invests in t / c Olympiad and office complex Unicentrs starts operating in the Latvian market. It has been active in Lithuania, investing in more than ten medium-sized commercial properties over the past five years. The company’s second line of business is renewable energy projects in Southeast Asia and the Baltic States.
–
