Capital Mill is expanding its portfolio in Latvia: we have acquired three shopping centres in Riga with a combined leasable area exceeding 25,000 m².

The new additions to our portfolio are Dole shopping centre and the centres at Stirnu iela 26 and Nīcgales iela 2. Rimi is the anchor tenant at all three centres.

We see strong potential in neighbourhood shopping centres located along people’s daily routes and serving the needs of local communities. Steady visitor traffic and opportunities for further development provide a solid foundation for long-term value growth.

Following the acquisitions, our focus turns to developing the properties. Reconstruction of Dole is scheduled to begin in the near future, while design work is underway for the renovation of the Nīcgales iela centre. Our goal is to create a more convenient, modern shopping environment that meets the needs of both visitors and tenants.

The portfolio expansion supports Capital Mill’s growth plans in Latvia, where our operations are led by recently appointed Country Manager Imants Krēsliņš. His focus is on identifying new investment and development opportunities, increasing the number of projects under management and growing the value of managed assets. Imants combines commercial real estate experience with a background in finance and private banking.

We thank Bigbank and Citadele for financing the acquisitions and COBALT for providing legal support across all three transactions.