Cobalt has advised Hepsor on its EUR 3.6 million acquisition of the 30,624 square-meter Ganibu Dambis 17A commercial property in Riga from unidentified sellers.
According to Cobalt, “the property has 13 buildings of different commercial functionality and approximately 70% of its total area is covered by lease agreements. The new space will be developed in accordance with the Hepsor green approach. The developer plans to build a business complex with extensive opportunities including stock-office buildings, offices, warehouses, and retail space. The total project volume is approximately 25,000 square meters, and the completion of the entire project is expected in 2025.”
Hepsor Ganibu Dambis is a subsidiary of real estate developer Hepsor AS.
Cobalt’s team included Managing Partner Dace Silava-Tomsone, Senior Associate Juta Meimere, and Associate Krista Helmute.
Cobalt was unable to disclose further information on the deal.