Maikapars House chosen as Japanese Ambassador’s residence

Real estate investment management company SIA “LASCO Investment” informs that the Maikapars House (address: 3 Aristida Briana Street 3, Riga) has been leased out to the Embassy of Japan.

“LASCO Investment” Management Board Chairperson Raitis Nespors comments: “The Maikapars House lease transaction confirms that high quality real estate objects continue to be on demand even in today’s unfavourable market situation. The concluded transaction will secure stable long-term income from lease, thus not only increasing the return on investment but also accruing added value for shareholders. At the same time, the transaction serves as a proof that the Real Estate Investment Development Strategy chosen by AS “Latvijas kugnieciba” (JSC Latvian Shipping Company) group is effective.”

The Maikapars House is a national architectural monument, and it is one of the most valuable real estate objects and one of the most magnificent representation houses in Riga.

The gorgeous mansion was built for Karl Heinrich Wagner in accordance with the design of the architect Robert August Pflug in 1876. With the lapse of time, the house has undergone style transformations and functional improvements corresponding to the requirements of changing ages, while retaining the original architecture and historical forms. One can discern in the building such architectural styles as Eclecticism, Neo-Renaissance and Neo-Baroque. The building has seen all kinds of landlords and dwellers during the past century: manufacturers, German government representatives, Soviet functionaries; it has housed the British Embassy and has been the residence of the Presidents of the restored Republic of Latvia Guntis Ulmanis and Vaira Vike-Freiberga. Presently the Maikapars House is a part of AS “Latvijas kugnieciba” real estate portfolio, which is managed by SIA “LASCO Investment”.

About LASCO Investment

SIA “LASCO Investment” is a subsidiary of the Joint Stock Company “Latvijas kugnieciba” (LASCO), which carries out the administration and management of LASCO’s real estates in conformity with the objectives set out in the Real Estate Investment Development Strategy: maximum profitability from investments, maximum added value and maximally profitable sale of investments when the real estate market situation becomes stable. For additional information, please visit www.lk.lv.

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