Conference “Developments in the Market for New Real Estate”

Conference

April 22, 2021

We are thrilled to be supporting the “Developments in the Market for New Real Estate” conference, focusing on changes in Latvia. We invite you to participate in this long-awaited online business event.

Date and time:
Thursday 29th April, 2021, from 9:30am to 3:00pm.

►Conference language – Latvian and English. Live online broadcast with supported translation;
►The conference will be recorded so that you can watch it whenever it is convenient for you;
►Panel speakers from Latvia, Lithuania and Estonia who represent the current leading real estate developers and investors in Latvia.

At the conference, we will be focussing particular attention on current developments in the residential sector, a sustainability agenda for the city and real estate, upcoming changes in Riga’s spatial vision and improved city governance.

We welcome you to use the CBRE Baltics discount of 15% as a way for us to express our appreciation to you for our long-term industry connection.

Further information about the conference, topics and participants: here

The Future Workplace TOP 10 PREDICTIONS

March 17, 2021

What will be different in the future?

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1.Remote work is here to stay.

Remote work desires are (and have been) growing. Organizations are preparing to meet this demand, and future competition for talent will take place over the battlegrounds of not just flexible work policies, but also flexible work support such as stipends, home office equipment, and technologies. Organizations will also need to focus on maintaining and strengthening their culture for remote employees.

2.The office is here to stay, too.

The physical office still has a role to play even in a more mobile future, but it will be designed to support flexibility and choice. Companies will rethink the role of a single HQ in favor of a broader ecosystem of work sites that may include regional offices, coworking spaces, and home to support increasing and ongoing mobility.

3. Space allocations will favor “we space” over “me space.”

To influence employees to use the office as their destination of choice, occupiers must rethink what their offices can deliver that is unique compared to the experience of working remote.
The office’s new purpose will be to provide a venue for community, culture and collaboration. Employees will be spending less time on individual/focused tasks while on-site and more time collaborating, networking and socializing. The composition of the office will adjust to reflect this change.

4. Conferencing will adapt to “mixed presence” collaboration.

Technology that connects on-site employees to remote employees will become standard builds in conference rooms. Tools such as virtual whiteboarding software, smartboards, synchronous and asynchronous communication platforms and large format telepresence devices will lessen the disadvantages of virtually joining an in-person meeting.

5.Amenities strategies will focus on hospitality and services.

To create a “magnetized” office that people want to come to, amenities will focus on creating a welcoming environment, supporting employee health & well-being and enhancing the convenience of working on-site.6.Desk sharing occupancy strategies will continue to grow in popularity.

6.Desk sharing occupancy strategies will continue to grow in popularity.

“Free-address” occupancy strategies that entail desk sharing — with enhanced cleaning protocols to support health and safety — are an increasingly attractive solution for occupiers that wish to optimize office utilization in a more mobile future world.
Larger occupiers will experiment with desk reservation systems to facilitate the transition.

7.Employees will demand more “elbow room.”

The pandemic will have a lasting impact on employee consciousness of health and well-being in the workplace. Beyond requirements for physical distancing, workstations and conference rooms will continue to be reconfigured to allow for greater separation between employees. Occupiers will not necessarily need to buy new, larger furniture standards though. Most will address these concerns via neighborhood planning and circulation.

8.Healthy building design and operation will take center stage.

COVID-19 has underscored the connection between buildings and wellness. As landlords and employees compete for tenants and employees respectively, differentiated workplace environments will be those that innovate in the field of well-being in the workplace and address a broad spectrum of health beyond just the physical.

9.How we define and measure workplace performance will change.

If workplaces exist to support the business enterprise and the people who occupy them, CRE success metrics should present a balanced scorecard and align to broader company goals. People-centric measures will become more common in the future to reflect the holistic intentions of workplace design.

10.Partnerships between CRE, HR and IT will strengthen.

More than ever before, delivering a high-performing workplace experience will depend on the thoughtful integration of space, people and technology. To navigate this interdisciplinary field, we will likely see an evolution in the role of “Head of Corporate Real Estate” towards a more elevated and strategic position of “Chief Places Officer.”

THE TOP 5 SKILLS OF THE CHIEF PLACES OFFICER:

More than ever before, delivering a high-performing workplace experience will depend on the thoughtful integration of space, people and technology. To navigate this interdisciplinary field, we will likely see an evolution in the role of “Head of Corporate Real Estate” towards a more elevated and strategic position of “Chief Places Officer.”

  1. Superior command of the core business
  2. Financial acumen
  3. Exceptional collaboration and partnering skills
  4. A forward-thinking visionary
  5. Leadership skill born in brick and mortar, but with an emphasis on hearts and minds

 

BTA Baltic Insurance Company Completes Investment Transaction in the Multi-family Residential Sector in Riga

March 02, 2021

March 2nd, 2021 – Riga, Latvia: BTA Baltic Insurance Company has acquired a large residential portfolio in Riga (properties located at 121 Ģertrūdes Street, 13 Alauksta Street and 35 Artilērijas Street) from the Rentejas real estate private equity firm. This is the largest ever portfolio transaction in the multi-family residential sector in Latvia.


Wolfgang Stockmeyer, Chairman of the Board at BTA Management, said: “We are very pleased to announce the acquisition of an attractive residential portfolio with a strong operational platform, and with this transaction, we are investing in a very stable and well performing asset class. With this transaction, we underline our trust in the Latvian economy and prove our intentions to invest further in our business in Latvia.”

The portfolio includes seven residential buildings at three locations comprising more than 170 tenanted units, all well-located in the central part of the City of Riga.
The seller is SIA Rentejas, which is a Latvian-Austrian capital company which specializes in the reconstruction and management of rental houses and provides full-service property management services. The partners have agreed not to disclose the scope of the investment. This is the first major investment by BTA Baltic Insurance Company in the private rental residential portfolio in Riga.

Kārlis Gabrilovičs, a board member at SIA Rentējas, comments: “The deal with BTA provides additional funding for our current development sites and allows us to take on new projects. Our business model is to fully renovate distressed historical buildings in Riga’s city centre and to bring them up to modern comfort and environmental standards – without compromising the historical flair of the buildings. Our pipeline contains over 100 new rental apartments on Avotu, A. Čaka, and K. Valdemāra streets. As an operator, we strongly believe in building up relationships with each of Rentējas’ individual tenants, and this has helped us through this very troubling pandemic.”

Felix Waechter, Managing Director at ILAG, the main shareholder of SIA Rentējas, added: “We are very pleased with the portfolio that we have managed to build in Riga over the last decade and are confident our buildings are in good hands with BTA, the new owners. We owe our success to our Latvian partners who have created a product that is in high demand – well-designed and well-managed living space in the heart of the city. We are also thrilled to serve the broader community by restoring abandoned architectural landmarks.”

This rental residential portfolio transaction is the largest transaction ever in the multi-family sector in Latvia. The multi-family sector in the Baltics is in its initial development stage. However, we see positive trends for this asset to become more attractive in future.

Vineta Vigupe, Director of Investment Properties at CBRE Baltics: “It is worth noting that the residential sector was less affected by the COVID-19 pandemic and showed high resilience across Europe in 2020. Growth in multi-family housing investment has been observed in recent years, becoming the largest asset class by investment volume in 2020. The private rental housing sector continues to attract developer and investor interest in the region and beyond. We are also seeing more activity in the multifamily sector in Riga and interest should remain strong”.

CBRE Baltics represented the buyer, acting as a full-service transaction advisor, including valuation and technical due diligence services.

Covid-19 and Brexit driving growing occupier demand for European logistics space

February 02, 2021

A new survey from global real estate advisor, CBRE shows that Covid-19 remains an important consideration for occupiers and will continue to drive demand for space in Europe. CBRE’s first European Logistics Occupier Survey, in conjunction with Analytiqa, analysed responses from more than 100 of the largest European logistics occupiers with a combined footprint of more than 40 million square metres across manufacturing, online and general retail, supermarkets and third-party logistics.


The survey shows that 47% of respondents highlighted a long term need for flexible storage space, with 36% of occupiers looking to accelerate their plans to ensure logistics facilities are ready to cope with increased demand from the rapid growth of the online channel.


Respondents also showed a willingness to explore non-traditional locations, outside of the core logistics hubs, to accommodate their expansion. A total of 64% of online retailers admitted that they would consider non-traditional locations, with 44% of all respondents saying they would do so.


The survey also shows that urban logistics is becoming increasingly important, with 64% of online retailers suggesting expanding in urban locations is now a high priority. This trend is reflected in the fact that delivery time to customers remains one of the most important factors influencing location decisions, with urban locations increasing efficiencies and shortening supply chains.


Moreover, according to the survey, 50% of online retailers in Europe believe they will need additional logistics space in the UK as a consequence of Brexit, with a further 40% suggesting they will also need additional space in the EU.

Tasos Vezyridis, Senior Director, Research, CBRE:

“Recent global events have shone the spotlight on logistics and alerted people to the importance of global supply chains. These trends have accelerated demand from logistics occupiers and placed greater importance on issues such as labour cost and availability, urban logistics, lease costs and flexibility. These trends in turn impact investor decision making and we anticipate high investor demand, especially in emerging logistics hubs, over the coming year, as a result of these strong occupier fundamentals.”

 

Merry Christmas and a Happy New Year!

Christmas_Card

December 23, 2020

Thank you all for your trust, cooperation and business in 2020. This year has been full of challenges and changes and for many of us this Christmas will be different.
This year we have decided to donate our regular budget of the client gifts to orphans from the SOS Children’s Villages in all three Baltic countries. Hopefully, together we could make those children’s hearts a little happier.

Only by giving you are able to receive more than you already have. /Jim Rohn/

Team CBRE Baltics wish you a Merry Christmas and a Happy, Healthy and Prosperous New Year!

Conference “Real Estate Market Trends in Latvia”

September 15, 2020

We are proud to support the first real estate sector conference this year in Latvia and invite you to participate in the long-awaited business event – the Real Estate Market Trends in Latvia Conference.

Date, time and venue:
24th September, from 9am to 4pm at the ATTA Centre, Krasta Street 60, Rīga.
– Conference language – Latvian
– Registration for the online broadcast, translated into English, is possible

At the conference, we will be discussing the development of Rīga and Latvian regions, developer priorities and additional challenges for tenants and investors in the residential and commercial property sectors. There will be an opportunity for you to express your opinion at the discussions and to ask questions of the participants on the panel, as well as to meet sector professionals from the private and public sector in person.

Further information about the conference, the topics and participants here.

RealEstateConference

Welcome to the Age of Responsive Real Estate

March 19, 2020

In the Digital Age, people, places and businesses became more interconnected than at any point in human history. Now, patterns of real estate use that have been unchanged for decades are evolving and we are entering the Age of Responsive Real Estate.

The places we rely on to sustain how we live, work and invest have an even greater importance in this time of accelerated change.

Explore 10 trends shaping real estate over the next decade in our Global Outlook 2030: https://bit.ly/2WhuD8V

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#CBRE2030 #ResponsiveRealEstate #CBREoutlook

 

 

Vilnius Office Outlook 2020-2021

Vilnius | February 25, 2020

The theme of our latest business breakfast meetup was understanding the Vilnius office leasing market. We heard some excellent ideas and insights. Thank you to Ignas Goštautas, Denis Rein, Giedrius Muliuolis from URBAN INVENTORS and Akvile Mackay from WALLESS for their great presentations.
We are looking forward to meeting all of you at the next event.

#vilnius #cbre #office

The “Commercial Real Estate Outlook for Riga 2020-2022”

Riga | February 21, 2020

What a great evening we had yesterday ar Business Garden Rīga! The “Commercial Real Estate Outlook for Riga 2020-2022” outlining trends for the coming years in office, retail, hospitality and investment drew interest from a wide range of businesses, as well as the public sector.
We want to thank all of the members of the Swedish Chamber of Commerce in Latvia (SCCL) and Norwegian Chamber of Commerce in Latvia who participated and look forward to our next meet-up!
#CBRE #realestatetrends #office #retail #hotels #riga #BusinessGarden

 

The fit-out of Visma Latvia new office at BusinessGarden Riga is complete

BusinessGarden Riga is your place to grow the business! We are proud to announce that the fit-out of Visma Latvia new office at BusinessGarden Riga is complete. The office with a total area of 1,500 sqm hosts 153 work stations. Several formal and informal meeting rooms and areas were created for productive meetings. The meeting rooms are equipped with high-quality glass partitions with sound insulation. There are several quiet rooms located around the office to avoid the noise from phone calls in the open-space area. Two kitchens, a break-out area and several lounge zones were also built for employees’ convenience.
Click here if you are interested to get in touch and learn more about the Business Garden – your place to grow! https://lnkd.in/dsB9cyr

#BusinessGarden #Riga #offices #placetogrow #Vastint #Visma #CBRE #Baltics