Eastnine sells two offices in Riga to Indexo Real Estate Fund

Swedish real estate company Eastnine has agreed to sell two office properties in central Riga, Latvia for approximately €38 mln, matching their book value.

Zala 1, Riga - Eastnine

The buyer is Indexo Real Estate Fund, managed by Provendi Asset Management.

The sale of Alojas Biroji and Zala 1, conducted through company transfers, involves properties with a total lettable area of about 13,700 m2. The transaction is contingent on financing and regulatory approval, with closing anticipated in Q2 2026. Eastnine will receive nearly €32 mln in cash and over €6 mln in units from the Indexo Real Estate Fund.

After this sale, Eastnine's remaining Riga portfolio will include the 8,800 m2 investment property Valdemara Centrs, which is undergoing significant renovations, and the Kimmel project property.

The Indexo Real Estate Fund invests in high-quality, low-risk properties across the Baltic region.