A club of investors acquired Domina Shopping Center in Riga

A club of investors, mainly composed of Estonian investors, acquired from EfTEN Kinnisvarafond II AS 100% of shares in EfTEN Domina SIA, a company that owns Domina Shopping Center in Riga. After the transaction, a Latvian subsidiary of EfTEN Capital AS will operate the center.

The core of the investor club largely consists of the same entrepreneurs, who jointly acquired Tallinn’s Kristiine Center in December 2024. The shareholders of EfTEN Kinnisvarafond II AS approved the transaction at the annual general meeting in the spring of 2026. The financial value of the transaction will not be disclosed.

„It is a pleasure to see that once again, mostly Estonian investors have joined forces for acquiring a large-scale property. ‘Club deals’ are a recent trend in larger commercial property transactions. In the European context, the Baltic States are again an attractive region for investments because of the returns 200–300 basis points higher than, for example, in the Visegrad countries. Whereas the conditions of the bank financing are similar in both regions”, said Viljar Arakas, Chairman of the Management Board of EfTEN Capital AS.

The investor club that acquired Domina consists of Anders Anderson, Toonart Rääsk, Ivar Vendelin, Raul Kirjanen, Jüri Külvik, Toomas Keridon and Kristjan Petjärv. From the EfTEN Capital management, Viljar Arakas, Tõnu Uustalu and Viktors Savins, Country Manager of EfTEN Latvia, participate as investors. In addition, retail investors will participate in further cash flows of Domina through the listed company EfTEN United Property Fund.

Domina Shopping Center is one of the largest shopping and leisure destinations in Riga. The center offers approximately 42,000 square meters of leasable space, 2,000 parking spaces, and is home to 170 tenants. In 2023, a new leisure area was completed, featuring, among other attractions, a cinema and a children's playground. Domina Shopping Center’s largest and best-known tenants include Maxima, JYSK, Peek & Cloppenburg, H&M, Sportland, Lido, Apollo Cinema, SkyPark, and MyFitness. Domina belonged to EfTEN Kinnisvarafond II since 2016.