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Cobalt Advises Brivibas Parks Projekti on Acquisition of Riga Property

Cobalt Advises Brivibas Parks Projekti on Acquisition of Riga Property

Latvia
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Cobalt has advised M.M.M. Projektai, a real estate development and investment group operating in Central and Eastern Europe, on its acquisition of real estate at Brivibas Gatve 201 in Riga from RE Property SIA.

The acquisition was made through M.M.M. Projektai group company SIA Brivibas Parks Projekti. A different M.M.M. Projektai company, SIA Brivibas Parks Projekti, acquired a property at Gustava Zemgala Gatve 73, also in Riga, also from RE Property SIA.

Saule Zabulionute, board member of Gustava Parks Projekti SIA and Brivibas Parks Projekti SIA, explained that “the properties (with a total area of 2.32 hectares and 5.59 hectares) have been acquired for the purpose of development of an office and residential buildings complex. We plan to develop the territory by 2026. Office spaces with lettable area of 50,000 square meters will be located at Gustava Zemgala Gatve, and residential houses with living area of 100,000 square meters at Brivibas Gatve. The investment will reach more than 200 million euros during the next seven years.”

Cobalt's team representing Brivibas Parks Projekti SIA in the acquisition of property at Brivibas Gatve 201 was led by Managing Partner Dace Silava-Tomsone.

Latvian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

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