COBALT advises Direct Capital, Prashkovsky Group on Latvian law matters

Direct Capital, Prashkovsky Group (Israel), Lehman Brothers (USA) and a group of Latvian real estate developers have become partners in SIA Capitolia Group, a company created for the development of three real estate projects – Bruklenparks (Marupe), Tekstiliana (Tornakalns) and SunDays (Jurmala). The projects will entail construction of approximately 1,000 apartments and 7,000 sq. meters of commercial space. The projected investment is EUR 183 million, estimated turnover from the sale of the projects – EUR 254 million.

COBALT advised Direct Capital, Prashkovsky Group on Latvian law matters, carrying out due diligence, advising on the structuring of the joint venture and negotiating transaction documents with the Latvian partners and financial investor Lehman Brothers.