Eastnine acquires office property in Riga
Eastnine AB (publ) has signed an agreement to acquire the office property Valdemara Centrs in central Riga. The purchase price amounts to EUR 25 million and the transaction is expected to be closed in the fourth quarter 2019. In connection with the acquisition, Eastnine will establish its own organization in Latvia.The purchase price corresponds to EUR 2,900 per square metres and an initial yield of 6.2 percent. The property is fully leased to about ten tenants, including law firms and accounting firms. "The acquisition means that we almost double our portfolio in Riga and then also