Kapitel acquired dignified House of Benjamins located in the heart of Riga

14.05.2021

Real estate company Kapitel acquired the House of Benjamins, located in the city centre of Riga at Krišjana Barona iela 12. Built in 1876, the Renaissance-style building is an architectural monument of Latvian national importance. Kapitel is working on developing a suitable concept for the dignified building.

 SIA Benjaminu Nams, part of Kapitel group, acquired the legendary House of Benjamins through an auction from SIA Europa Group. „Kapitel is honoured to be the new owner of the House of Benjamins. We have experience in restoring buildings of historical value and our goal is to develop a suitable concept for reopening the House of Benjamins and preserving its historical value,“ said Rait Pallo, Member of the Management Board of Kapitel.

House of Benjamins building embodies the spirit of Italian Renaissance – the shape of the building resembles Italian palazzo and its owners have been prosperous, influential and art-loving throughout history. The building was built in 1876 for rich merchants Pfabs and was designed by Willhelm Beckmann and Hermann Ende from Berlin. Facade of the building is adorned with sculptures and reliefs. In 1928 the building was sold to family of Benjamins, the most influential people of Latvia at time, owners of mass media empire. The building became even more ornate through reconstruction until 1930 under the guidance of architect E. Laube. In 1990s the house was inherited by posterity of the Benjamins. In 2006 the building was restored, and a four-star hotel Europa Royale Riga was opened, which operated until 2019.

 Kapitel (www.kapitel.ee) is among the largest real estate companies in the Baltics, developing and managing shopping centres, hotels and office buildings. The group’s portfolio includes over 185,000 sq m of rental premises. The company owns four office buildings (Delta Plaza and Sõpruse Ärimaja in Tallinn, Narbuto 5 in Vilnius and I.P.Pavlova 5 in Prague) and has holdings in four shopping centres (Spice and Spice Home in Riga, Panorama in Vilnius and Viru Keskus in Tallinn). The company owns Nordic Hotel Forum (operated by Nordic Hotels OÜ) and, with Infortar AS, co-owns Tallink City Hotel, operated by Tallink Hotels. Kapitel also has holding in Nordassets OÜ, which owns two logistics centres on the Tallinn ring road.