22
Tue, Oct
61 New Articles

Ellex Klavins Advises New Hanza Capital on Acquisition of Riga Office Buildings

Ellex Klavins Advises New Hanza Capital on Acquisition of Riga Office Buildings

Latvia
Typography

Ellex Klavins has advised New Hanza Capital, acting via its NHC 2, SIA subsidiary, on the acquisition of three office buildings on the territory of Latvia's former State Electro-Technical Factory from Salvus 6, SIA, a subsidiary of DNB Bank.  

New Hanza Capital, AS — a member of the ABLV group — was founded in 2006 to invest its own and third party funds, to sustainably raise revenues from the lease of premises, and to ensure the increase of property value and capital gain in the long term. Its majority shareholder is ABLV Bank, AS, which owns 88% of the company’s shares.

According to Ellex, the VEF territory is now being developed as a new quarter for business, culture, entertainment and creative activities. The firm reports that "the acquired site has the status of cultural heritage and has a high potential for development."

The total value of the transaction is EUR 8.46 million. The overall floor area of the acquired office buildings, which are located in Riga at Brivibas Gatve 214B, Brivibas Gatve 214M, and Berzaunes Iela 1a, is approximately 25,000 square meters. Intrum Justitia Software Development Centre, SIA and Accenture Latvian branch are among the most prominent tenants in the buildings.

The Ellex Klavins team was led by Partners Ivars Pommers and Inita Jurka.

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

All News about Cobalt can be found here.

 

Our Latest Issue