Lithuanian Akropolis Group buys Alfa shopping mall in Rīga

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Lithuanian Akropolis Group said in a release August 9 that it is buying one of the biggest shopping malls in Rīga, Alfa.

Akropolis Group owns three large shopping centers in Lithuania, as well as Akropole in Rīga.

A deal has been signed to acquire 100% of the shareholding in Latvian company Delta Property, which owns the land and building of Alfa at Brīvības street 372, the main road into Rīga from the north.

The parties have agreed not to announce the value of the intended transaction.

The total area of the shopping centre Alfa is about 154,000 sq. m, net of the parking lot it amounts to 94,000 sq. m, the leasable shopping area is 71,000 sq. m. 1,750 cars can be parked at the same time at the parking lot. 210 shops operate in the shopping centre.

Alfa houses various international retail sores including Zara, Reserved, H&M, Euronics, Sportland, Kidzone,, Cinamon, Lido, McDonalds, and others. The shopping centre also houses a large Rimi supermarket.

"We have achieved the leading position among shopping and entertainment centers organically, by developing our own projects, but we have always had the ambition to grow through acquisitions, too. The transaction in Riga adds to our leading position and our trust in the future of the shopping centers business,” said Manfredas Dargužis, CEO of Akropolis Group.

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