Eastnine AB (EAST.ST) Monday said that it has agreed to sell two office properties in Riga, Latvia, namely Alojas Biroji and Zala 1, for approximately 38 million euros, in line with book value. The buyer is Indexo Real Estate Fund, managed by Provendi Asset Management, an alternative investment fund manager.
The Swedish real estate investment company said that the properties, totalling around 13,700 sq. metres of lettable area, will be transferred via company sales. The transaction is subject to financing and regulatory approvals, with closing expected in the second quarter of fiscal 2026, Eastnine added.
According to Eastnine, the proceeds will include about 32 million euros in cash and just over 6 million euros in fund units.
The company said that following the completion of the sale, it will retain only Valdemara Centrs, which is approx 8,800 sq. metres and the Kimmel project property in Riga.
On the Stockholm Exchange, EAST.ST ended Friday's trading at 48.60 Swedish Kroner, up 0.52 percent.
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