Cobalt has advised real estate developer and manager Linstow Baltic on its sale of a 3.6-hectare land plot in Riga to Rimi Latvia for EUR 8 million.
Rimi Baltic is a retail operator in the Baltic states based in Riga. It is a subsidiary of Swedish group ICA. Rimi Baltic operates 291 retail stores, including 132 in Latvia, ranging from hypermarkets to convenience stores.
The sold 3.6-hectare land plot is located at 382 Brivibas Street, Riga, next to the Akropole Alfa shopping center. According to Cobalt, "this is the largest land transaction, both by area and value, in Riga in 2023."
The Cobalt team included Managing Partner Dace Silava-Tomsone, Partner Sandija Novicka, Specialist Counsel Sabine Vuskane, Senior Associate Juta Meimere, and Associates Krista Helmute and Toms Dreika.