Baltic Horizon Fund has signed a sales purchase agreement to buy the LNK Centre in Riga from SIA LNK Properties and SIA FIN.LV. The LNK center contains nearly 7,500 sqm of class A office space in the modern Skanste district of Riga. The building is fully leased to five tenants of which LNK Group and Exigen Services occupy 90 percent. At the same time, LNK group, one of the largest real estate and infrastructure construction companies in Latvia, has extended its lease on the property for a further 10 years. The yearly yield on the property is currently approximately 6.5 percent. The purchase is expected to be completed within one month for approximately €17m.
