In response to the evolving needs of modern law enforcement, the Latvian State Police sought to move its employees to a new and modern facility. State Police has searched for a building that not only provides offices and meeting rooms, but also meet a long list of special requirements concerning location, access and space for interviews, interrogation rooms, detention, changing rooms, etc.
The Upmalas Biroji building is acknowledged for its quality and contemporary solutions, and the large floor plan makes it easy to change the layout to fit specific needs. The building was awarded the ‘Most Sustainable Building in Latvia’ in 2013 due to its advanced climate and ventilation solutions and low utility costs. It is planned that the adaptation of the premises to the needs of the State Police will be carried out by a construction contractor selected as a result of an open tender announced by the Provision State Agency and the costs of the construction works will be covered from the financial resources of the State budget.
With a 12-year lease agreement in place, Upmalas Biroji is set to become the home to a considerable number of Latvian State Police officers and staff, solidifying its position as a dynamic and efficient hub for public and private organizations.
We eagerly anticipate the Latvian State Police as a long-term tenant in Upmalas. Meeting the unique requirements of a Police Department is a testament to the building’s qualities. This lease, covering approximately 4,000 sqm, ranks among the largest real estate agreements in Latvia this year comments Edvinas Karbauskas, Co-Fund Manager for Baltic Horizon Fund and responsible for the Fund’s office buildings in Latvia.
Baltic Horizon Fund’s primary focus is to make long-term investments into commercial real estate located in Estonia, Latvia and Lithuania with a particular focus on the capitals – Tallinn, Riga and Vilnius. Among many other tenants, the Fund houses other governmental companies such as Latvian State Forestry, Estonian Information Authority and Lithuanian Tax Agency.
The move to the new premises is expected to take place in March 2024.
About Baltic Horizon Fund
Baltic Horizon Fund is a listed real estate fund delivering value to investors through active management of commercial real estate in the Baltics. The portfolio consists of 12 properties in the Baltic capitals. The Management Company (AIFM) of the Baltic Horizon Fund is Northern Horizon Capital AS.
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