COBALT advised Hepsor on acquisition of a commercial property in Riga

Hepsor Ganibu Dambis SIA, a subsidiary of Hepsor AS, has acquired a property of 30,624 square metres in Ganibu Dambis 17A, Riga. The property has 13 buildings of different commercial functionality and approximately 70% of its total area is covered by lease agreements. The total acquisition price is 3.6 million euros.

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 type of buildings, offices, warehouses, and retail space. The total project volume is approximately 25,000 m2, and the completion of the entire project is expected in 2025.

COBALT provided a full legal support in the project, including the legal due diligence of the target, drafting of transaction documentation, representation in negotiations. The developer was advised by Managing Partner Dace Silava-Tomsone, Senior Associate Juta Meimere, and Associate Krista Helmūte.

Hepsor AS is a residential and commercial real estate developer operating in Latvia and Estonia. It has been the first real estate developer in the Baltic States to implement a number of innovative engineering solutions that make the buildings more energy-efficient and thus more environmentally friendly. The company’s portfolio is comprised of 25 development projects with a total sellable space of 176,000 m2.