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OP Corporate Bank issues the loan for the Galerija Centrs purchase transaction

[18.06.2019]

OP Corporate Bank plc Branch in Latvia has signed an agreement on granting the loan, in order to ensure credit funds for the process of the acquisition transaction of the real estate of Galerija Centrs Shopping Centre.

In May, Real Estate Investment Fund Baltic Horizon Fund signed an agreement with SIA Linstow Center Management on the acquisition of 100% of the stock owned by it in the company SIA Tampere Invest. Transaction amount - 75 million euros. SIA Tampere Invest owns the real estate of Galerija Centrs Shopping Centre.

Galerija Centrs is a historical building in the very heart of Old Riga, where trading has been taking place ever since 1938. The building was modernised and expanded in 2006. Upon the closing of the Galerija Riga acquisition transaction, the investment fund Baltic Horizon Fund now owns shopping centres in all three Baltic states.

OP Corporate Bank plc is the central bank of OP Financial Group, Finland's largest financial services group. The international credit rating agencies have rated OP Group as a stable and strong financial organisation, by respectively assigning the highest ratings to the long-term liabilities. OP Corporate Bank plc has been working for 10 years in Latvia. During this period it has played an important role in the long-term development of Latvia and the whole region.