Glimstedt has reported that it advised Plaza Centers and the New York-registered New Century Holding investment fund on their September, 2016 sale of the Riga Plaza shopping and entertainment center in Riga to an unnamed global investment fund. The transaction value was EUR 93.4 million.
The transaction was structured as a transfer of business, and Glimstedt reports that work on the project lasted nearly a year. The firm has advised Riga Plaza since construction on the shopping center started in 2007.
The Glimstedt team was led by Partner Ivars Pommers, supported by Inita Jurka, the head of the firm's real estate practice group.
Glimstedt did not reply to our inquiry about the identity of the buyer or its legal counsel on the transaction.
Image Source: liveriga.com
