Cobalt has advised Hepsor Latvia on its sale of the property located at Ulbrokas Iela 30 in Riga to the East Capital Real Estate Fund IV in a share deal. Vilgerts advised the East Capital fund.
Hepsor is a residential and commercial real estate developer in Estonia and Latvia. The company's portfolio includes 26 development projects with a total space of 177,000 square meters.
The East Capital Real Estate IV is a real estate value-added fund managed by East Capital. It's located in Stockholm and invests in the Baltics and Central Europe, focusing on the office and retail sectors.
According to Cobalt, “the property is a stock-office type commercial building, known as StokOfiss U30, with a total lettable area of 3,642 square meters. StokOfiss U30 was completed in October 2022 and is fully leased to multiple tenants, with the international cosmetics retailer Douglas as its anchor tenant. The building provides a three-in-one solution, allowing companies to have sales premises, office, and warehouse facilities all in one space.”
Back in 2022, Cobalt also advised Hepsor on its EUR 3.6 million acquisition of the 30,624 square-meter Ganibu Dambis 17A commercial property in Riga (as reported by CEE Legal Matters on July 6, 2022).
The Cobalt team included Managing Partner Dace Silava-Tomsone and Senior Associates Juta Meimere, Marija Berdova, and Liga Fjodorova.
The Vilgerts team included Managing Partner Gints Vilgerts and Associates Elizabete Bartansone and Eliza Grinvalde.