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Cobalt Advises Linstow Baltic on Sale of 3.6-Hectare Riga Plot to Rimi Latvia

Cobalt Advises Linstow Baltic on Sale of 3.6-Hectare Riga Plot to Rimi Latvia

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Cobalt has advised real estate developer and manager Linstow Baltic on its sale of a 3.6-hectare land plot in Riga to Rimi Latvia for EUR 8 million.

Rimi Baltic is a retail operator in the Baltic states based in Riga. It is a subsidiary of Swedish group ICA. Rimi Baltic operates 291 retail stores, including 132 in Latvia, ranging from hypermarkets to convenience stores.

The sold 3.6-hectare land plot is located at 382 Brivibas Street, Riga, next to the Akropole Alfa shopping center. According to Cobalt, "this is the largest land transaction, both by area and value, in Riga in 2023."

The Cobalt team included Managing Partner Dace Silava-Tomsone, Partner Sandija Novicka, Specialist Counsel Sabine Vuskane, Senior Associate Juta Meimere, and Associates Krista Helmute and Toms Dreika.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.