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Primus Represents Novira Capital in Financing for Riga Property Deal

Primus Represents Novira Capital in Financing for Riga Property Deal

Latvia
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Primus has represented Novira Capital, an Estonian real estate financing and development company, on its financing of a real estate and company share acquisition in relation to undeveloped property in the central part of Riga.

The transaction involved financing the acquisition of claims from Raiffeisen Bank International AG and the target company`s shares from Austria-based real estate developer Soravia Real Estate Development GmbH, as well as the restructuring of secured claims and onward sale of the real estate to Lithuania based investment fund Capitalica Baltic Real Estate Fund I.

The work on the project started in January of 2018 and closed in August 2018.

Primus's team included Partner Kristine Gaigule-Saveja and Senior Associate Andis Ozolins.