Riga, Latvia – Granita Industries, the parent company behind Baltica Industrial Park, successfully completed the sale of a 12-storey residential property in Riga to a fund managed by EfTEN Capital, one of the Baltic region’s leading real estate investment managers.
The transaction represented one of the largest residential rental investment transactions ever completed in the Baltic market and marked an important milestone in the transformation of the property into a modern residential asset.
The building, comprising more than 100 apartments, was acquired by EfTEN Residential Fund as part of its expansion into the Latvian residential rental market for an undisclosed amount. Following the acquisition, the property became part of EfTEN’s growing Baltic residential portfolio and was selected for a significant modernization and investment program.
The transaction highlights Granita Industries’ long-standing experience in identifying, managing, and enhancing real estate assets across multiple sectors, including industrial, logistics, commercial, and residential properties.
Today, this experience continues through Baltica Industrial Park, where the company remains focused on creating long-term value through active asset management, infrastructure investment, and strategic property development.
The successful completion of this transaction reflects the quality of Granita’s assets and its ability to attract institutional investors to opportunities in Latvia’s real estate market.
