TGS Baltic has advised Moller Real Estate Baltic AS on the acquisition of a 2,300-hectare land plot near the Riga International Airport and a former British American Tobacco Latvia office-warehouse building located on it. Cobalt advised the unidentified sellers on the deal.
Moller Real Estate Baltic AS is a real estate property developer owned by the Moller family. The company reports a turnover of MNOK 400 and a portfolio value of MNOK 13,000. According to TGS Baltic, the property was acquired for the expansion of of the Moller Mobility Group car dealer network, which the firm describes as ”the leading car group in the Nordic and Baltic countries and one of the largest car companies in northern Europe. The group’s dealers sell such brands as Audi, Volkswagen, SKODA, and SEAT.”
TGS Baltic’s team included Partner Linda Strause and Associates Aija Kreicberga, Reinis Grunte, and Rudolfs Vilsons.
Cobalt's team included Managing Partner Dace Silava-Tomsone, Partner Sandija Novicka, Specialist counsel Sabine Vuskane, Senior Associate Diana Zepa, and Associates Juta Guļkevica and Zane Caune.