Baltic RE Group, AS (the “Company”) hereby announces that it has acquired 8.89% of the share capital of TER Properties, SIA (“TER Properties”), so reaching the full (100%) ownership of the acquired company.
The acquisition of the entire capital of TER Properties is part of the Company’s group rationalization strategy, realizing the planned target of possessing the entire share capital of all the subsidiaries.
TER Properties owns the whole share capital of BB21, SIA, which has acquired and restructured the property located in Brivibas Boulevard 21 in Riga, formerly the historical Imperial Hotel, completing the recovery of one of the most relevant buildings in the city and successfully leasing it to leading international tenants.
The Company is proud to have in its portfolio a building - now named again Imperial Palace – which is an extraordinary landmark property whose renewal has been multiply awarded.
About Baltic RE Group, AS
Baltic RE Group, AS business lines are purchase and sale of real estate, its lease and management. The holding is the largest lessor of all-purpose high quality commercial areas with state-of-the-art facilities in Old Riga. Baltic RE Group, AS is investing in the Baltics with a long-term view, highly specific vision and a non-speculative approach for the creation of sustainable value.
For more information, please visit - http://www.balticregroup.com
Dina Abaja
Member of the Board, authorized person
Phone: +371 27832796
E-mail:dina.abaja@balticregroup.com