Cobalt has advised I Asset Management on a EUR 12 million development project for private student housing in Riga in cooperation with MBC Capital and Bonum Management. Triniti reportedly advised MBC.
The 240-room project will be constructed next to the Academic Center of the University of Latvia and is scheduled to be completed by 2022.
According to Cobalt, "the project in Riga is a part of I Asset Management's student housing development strategy which aims to develop modern student housing across the Baltics and elsewhere in Central and Eastern Europe. Over the next five years I Asset Management aims to develop and consolidate in excess of 4,000 rooms of student housing."
The Cobalt team included Managing Partner Dace Silava-Tomsone, Partner Sandija Novicka, Senior Associate Elina Locmele, and Associates Juta Meimere and Vadims Zvicevics.
