Newsec launches property asset management service in Latvia

Real estate consulting firm Newsec, strengthening its positions in Latvia, is introducing property asset management services in the Baltic country. The first client is the Finnish company Bassadone Group, an importer and retailer of automotive brands in the Baltics.

Newsec in the Baltics, which has significant property asset management experience in Lithuania, is expanding the offering to other countries, where it will apply the good practices it has developed managing real estate for Telia, Vičiūnai Group, Eften Capital, REInvest, Deka Immobilien, and other international and local companies.

"In Lithuania we now manage 59 commercial properties with a total area of 620,000 square metres and a team of 52 professionals responsible for managing them and increasing their value. The quality of our property asset management services is ensured by ISO certifications, which give clients even more guarantees of our management and environmental standards. Along with the new client, Newsec has also enlarged its team in Latvia, which has solid expertise in both the commercial and technical sides of asset management. With such a wealth of experience and specialists, we are entering the Latvian market with no hesitation, offering services of the highest quality,” says Rida Kalvaitienė, Head of Property Asset Management at Newsec in the Baltics.

Property management experts with years of experience create added value for the owner of an asset, Kalvaitienė notes. Clients no longer have to deal with day-to-day maintenance, tenant relations, technical aspects of the building, or relations with suppliers and government institutions. All of those things demand a considerable amount of time and specific know-how. The need is well illustrated by Newsec's contract with the Bassadone Group, whose main activity is the sale of new cars.

Bassadone Group has been operating in the Baltic countries since 1996 and is successfully expanding. In Latvia the company imports Citroën, Hyundai, Isuzu, Peugeot, Suzuki, and SsangYong automobiles. This fall the company will open a new 7,000-sq.m. showroom in Riga, management of which it will entrust to Newsec.