Cobalt advises on renewable energy projects, as well as high value commercial real estate, demonstrating skill in both contentious matters and acquisitions, financing and planning side work. The practice is led by highly experienced real estate M&A lawyer and managing partner, Dace Silava-Tomsone, who is supported by energy and infrastructure specialist, Gatis Flinters. Further key names include Guntars Zile and Toms Sulmanis, who both have strong backgrounds in construction and property law.
Real estate and construction in Latvia
Cobalt
Practice head(s):
Dace Silava-Tomsone
Other key lawyers:
Guntars Zīle; Toms Šulmanis; Gatis Flinters; Sergejs Rudāns
Key clients
ABB, SIA, part of ABB group
AFI Investments SIA
AirBaltic Corporation AS
Astor Group
Baltic Green Investments
Consolis Latvija SIA
Corum Asset Management
Decathlon
Hili Properties
Hepsor Latvia OÜ
I asset Management
Kapitel SIA
Latvenergo AS
Lidl Latvia SIA
Linstow group
Swietelsky AG
VPH group
Volvo Truck Latvia
Workland Latvia SIA
Work highlights
- Represented Pienava Wind SIA in an administrative case initiated in connection with the decision of Tukums Municipality not to approve the proposed activity: the construction of the Pienava wind farm in Tukums Municipality.
- Advised Viru Kemia Grupp (VKG Invest OU) in a sale and leaseback transaction of the Stockmann department stores in Tallinn and Riga. The Riga property includes also a multiplex cinema operated by Forum cinemas.
- Represented Lidl group entities in launching its operations in Latvia with simultaneous openings of the first 15 stores.
Ellex
The ‘highly skilled and knowledgeable‘ Ellex real estate team is recommended for its cross border transactional capabilities. The team oversees some of the largest acquisitions and sales in the Latvian real estate market and has notable specialisms in real estate investment and financing. The practice head is Ivars Pommers, who is experienced in environmental law, construction disputes and tax structuring as well as transactional work. Also key are Ilga Gudrenika-Krebs, recommended for ‘always providing solutions‘, and commercial property specialist Inita Jurka.
Practice head(s):
Ivars Pommers
Other key lawyers:
Ilga Gudrenika-Krebs; Inita Jurka
Testimonials
‘Ellex’s real estate and construction lawyers are highly skilled and knowledgeable in the field. I can highly recommend the team.’
‘Ilga Gudrenika-Krebs can always be reached with a short notice when she is needed. She is very service minded and will provide expertise within the firm when needed.’
‘We had a Baltic-level real estate transaction. We had the feeling that the countries (Ellex Teams) were communicating with each other and were united. Different solutions and compromises were sought to achieve the result. Payments were convenient and service payment was clear. The team is very knowledgeable and supportive. This is definitely the team that will provide the most professional support in real estate transactions.’
Key clients
Blackstone
IKEA Latvian franchise holder SIA Paul Mason Properties/SIA Verus Praedium
Eastnine
VIG Fund
Swedbank AS
Luminor
Bonava
YIT
Orkla
KESKO
VMG Group
Jysk
Catella Corporate Finance
Ingleby Latvia Agro, SIA
BTA Baltic Insurance Company
Sportland
Lords LB Asset Management
SG Capital
Capitalica Asset Management
Hanner
Estera Development
Printful
Vilvi Group
SPI Group Companies
Pillar
New Century Holdings
Itella
Wilo
Work highlights
- Advising Hanner on selling of a complex of office buildings Jaunā teika for the total transaction value EUR 131 million.
- Advising BTA on a Baltic rental housing development deal with YIT.
- Advising Lords LB on full spectrum of the development of the Preses Nams Kvartāls, including, advising on obtaining the syndicate bank financing form EIB and Citadele bank in the amount of EUR 50 million.
Eversheds Sutherland Bitāns
Real estate is one of the flagship practices of Eversheds Sutherland Bitāns, with the firm advising on high value real estate M&A, financing matters and even constitutional disputes concerning land use. The team counts both municipal authorities and foreign multinational companies among its diverse client base. The practice is led by Ilze Kramiņa, who has considerable experience in both contentious matters, including administrative cases, and non-contentious transactional and regulatory matters in this field, as well as environmental law. Ginta Krukle, a specialist in public sector work, is also a name to note.
Practice head(s):
Ilze Kramiņa
Other key lawyers:
Ginta Krukle
Testimonials
‘Eversheds Real Estate and M&A team has a wide experience in these fields. Support was given in every step of the process, without making things too complicated.’
‘Ilze Kramina has excellent knowledge and experience in RE field. She is not only legal adviser but can manage the whole process from start till the end. All deadlines and promises are kept without any compromises and excuses.’
Key clients
LHV Varahaldus (LHV Bank pension funds)
Council of Riga City (Riga municipality)
Metro Capital Management
LiveOn group of companies
Anaerobic Holding companies
Latzeme OU
Ventspils nafta terminals
Energo Wind, LLC
Jugla LLC
Aktsiaselts Kaamos Kinnisvara (Kaamos group companies)
One Development
LatRosTrans, LLC
Microsoft Latvia
Valsts nekustamie īpašumi (State Real Estate)
LLC ”Rīgas jahtu centrs “ANDREJOSTA””
Liepājas Special Economic Zone Authority
Rīgas namu pārvaldnieks, LLC
Rīgas universālais termināls
Work highlights
- Advised LHV Varahaldus on acquisition of real estate portfolio (5 rental houses in the centre of Riga) with the total value exceeding 9 million EUR.
- Assisted Riga city municipality in the preparation of the application to the Constitutional Court disputing the decision of the competent minister to suspend the validity of the new spatial plan for Riga.
- Assisted the Latvian subsidiary of Metro Capital Management (Estonian real estate developer) in a multi-million EUR sale transaction of the shopping centre to the Lithuanian fund Eika Asset Management.
Sorainen
Sorainen has a very strong record in cross border real estate transactions and counts Lords Asset Management and Nordic Investment Bank among its clients. The firm is also very active in the infrastructure space, with RB Rail being another major client. The practice is jointly led by Lelde Laviņa, who has a background in development projects and sale and leaseback transactions, and Jorens Jaunozols, who has first hand experience in the market having previously worked for a real estate portfolio holder. Counsel Viktorija Smirnova-Čerkasa and senior associate Andris Vilisons are also important pieces of the team.
Practice head(s):
Lelde Laviņa; Jorens Jaunozols
Other key lawyers:
Viktorija Smirnova-Čerkasa; Andris Vilisons
Testimonials
‘Very experienced and highly competent legal team; attentive to clients’ needs and showing understanding of clients’s business requirements. Accessible on short notice.’
‘We recommend Jorens Jaunozols, Lelde Lavina and Andris Vilisons – a very experienced team with whom we have a close working relationship on an ongoing basis.’
Key clients
Linstow
Lords LB Baltic Fund III
Titanium Baltic Real Estate fund
Stockmann
Nordic Investment bank
A.C.B., Binders, and TIIC (Portugal)
RB Rail
Rīgas cirks
Brabantia Latvia
Ignitis Group
Work highlights
- Advised Nordic Investment bank, an international financial institution; and Citadele banka, one of the leading banks in Latvia, on providing financing to AS PN Project, a company managed by Lords LB Asset Management, for construction of an office complex certified excellent by BREEAM in Riga.
- Advised Linstow on all of its large scale acquisitions (Sporta 2; Satekles Business Centre) and sales (hotel “Rīdzene”) during the last year.
- Advised Stockmann on the sale of its department-store properties in Tallinn and Riga to the investment arm of the Viru Keemia Grupp.
TGS Baltic
TGS Baltic provides support in both commercial real estate transactions and public sector developments. The team also has strong capabilities in public procurement work and specialist knowledge in sectors including energy and sport. Linda Strause, experienced in PPP, development regulatory, constitutional and environmental law, leads the team, supported by Sandis Petrovičs and Agnese Hartpenga. Senior associate Aija Kreicberga is also key, providing previous industry experience to her clients, having worked as a real estate expert for Latvijas Mobilais Telefons.
Practice head(s):
Linda Štrause
Other key lawyers:
Sandis Petrovičs; Agnese Hartpenga; Aija Kreicberga
Testimonials
‘Our team leader Linda Štrause is so responsive and knowledgeable. The team always responds timely, are on top of their game and we are very satisfied with the results they give.’
‘Partner Linda Štrause is one of the greatest leaders of the industry we have ever worked with. Aija Kreicberga has so much talent in real estate, we love working with her! Zane Sk?amina, although has just 5 years of experience, has given our real estate cases a big boost and we would love to see her growth further in the future!’
‘Whole team has such technical knowledge that I have no doubt that always we get the best treatment.’
‘After covid, they are still providing options to meet online also, which is very convenient for busy people. Billing is always timely and in emails.’
‘We have been working with TGS Baltic real estate and dispute resolution practice groups team for quite some time now. Very strong team of recognized, experienced and skilled attorneys at law, with a capacity to cover large scale and very complex cases. They offer quick and quality analysis, whenever it is necessary, always meet agreed deadlines. Their fees are competitive, and their advice has particular and practical added value.’
‘I would like to acknowledge the vast and extensive knowledge and skills of Linda Štrause, a partner, the head of team and our main contact. Partner Linda Štrause is always on point and provides great communication when dealing our cases. Aija Kreicberga shows great support in every aspect of her work with us.’
Key clients
Akropolis
SIA M257
Latvenergo AS
Flebomedika SIA
Roto
Schwenk SIA
Moller Mobility Group
Sporta centrs Mežaparks SIA
Delta Property SIA
Rotho Blaas Group
Wind Power Development
University of Latvia
Valsts nekustamie īpašumi (States Real Estate)
Work highlights
- Provided full transactional support to Akropolis Group UAB in the acquisition of 100% of the shares of SIA Delta Property, the owner of a major shopping centre Alfa Shopping Centre in Riga, Latvia.
- Represented the University of Latvia in the development of the university’s new campus in Torņkalns, Riga.
- Assisted Rotho Blaas with the purchase of a warehouse in Latvia.
FORT
FORT supports on a number of large real estate transactions and offers more niche capabilities too. For example, the practice has specific expertise in real estate work in the sports sector, and is also involved in retrospective claims for property restitution linked to the period of nationalisation under the Soviet Union. Jānis Līkops leads the team, supported by Sandis Bertaitis.
Practice head(s):
Janis Likops
Other key lawyers:
Sandis Bertaitis; Vita Rancane
Testimonials
‘In any real estate / construction matter we can definitely recommend FORT. They are well-known market leaders in this practice, having more than 15 years of experience. FORT is experienced, knowledgeable and capable of bringing high-class advice in real estate / construction matters of any level of difficulty.’
‘In this practice there are several lawyers standing out – both partners, Janis Likops and Sandis Bertaitis, as well as senior associate Vita Rancane. We value the in-depth knowledge, seeing the bigger picture and always being one step ahead.’
‘We consider Fort to be one of the strongest law firms in this practice area. They are very experienced, they have both practical and theoretical knowledge. The billing is easy, transparent and grounded.’
Key clients
Baltijas Industriālais Parks
Capital Mill
Rotermann
Eika Asset Management
Krassky
Latvian Red Cross
LNK Properties
Piche
Sodra
Vastint
Work highlights
- Assisted Eika Asset Management UAB in expanding its activities in Latvia by acquiring shares in an SPV, which owns a shopping centre in the centre of Riga.
- Supported Latvian Red Cross with restitution matters (re-establishing of the client’s ownership or providing respective compensation) in respect to the client’s historic real estate properties that were nationalised during the Second World War.
- Advised Rotermann in the sale of several real estate properties comprising the so called Rigas Sporta Pils quarter (former ice hockey arena Riga Sports Palace) in the historic centre of Riga, Latvia.
WALLESS
WALLESS oversees large transactions in the area of shopping centre retail space, as well as advising on commercial office developments. Practice head Kristine Gaigule-Saveja has over two decades of experience in structuring real estate deals and advising on construction law. Associate partner Andis Ozoliņš, who works on corporate governance, regulatory and competition issues in the real estate field, is also key.
Practice head(s):
Kristīne Gaigule-Šāvēja
Other key lawyers:
Andis Ozoliņš
Key clients
Pulsar Optics SIA
KS Holding
Kauno Tiltai
Skonto Būve SIA
RERE GRUPA
A.C.B. AS
TAV Airport Holding
Depo DIY
Lumi Capital
Novira Capital OU
Graanul Invest AS
AJ POWER SOLAR AS
TILTS SIA
BHM group
Capitalica Asset Management UAB
Marijas 2 SIA
Baltic Horizon Group companies
Bonava Latvija, SIA
Newsec Latvia
Work highlights
- Advised KS Holdings in sale of shopping centre OZOLS.
- Advised Novira capital with respect to development of Novira Plaza, a 7-floor office building, in heart of Riga.
- Advised Lumi Capital in acquisition of Indi business centre, as well as multiple shopping centres in Riga.
Kronbergs Cukste Levin
Kronbergs Cukste Levin serves as regular counsel to developers and leasing companies, assisting with drafting, due diligence and acquisitions. The firm is also strong in procurement disputes, construction contractual matters and infrastructure projects. Kristine Sakarne leads the team.
Practice head(s):
Kristine Sakarne
Key clients
Forma 2
Hausers
Jurmalas Businesa Centrs
Estate Guru
InterTrust / White Cryption
Skonto Buve
AVON
JSC Latvian Railways
Mara Adams
LION RE
Franzoni & Co
Microsoft
OÜ Baures
Peek & Cloppenburg
ISMS Limited
European Railway Lines
State owned company Kulturas un sporta centrs Daugavas stadions
SIA Ambient Home
Janis Auns
DHL
Tenax
Electrolux
Avesco
OTCF
Linstow
SIA Karlsberg
Netaman Repair Group OÜ
Ezis Technologies SIA
Work highlights
- Served as regular legal counsel in matters concerning mortgage security for Estate Guru.
- Advised Hauser on all facets of commercial residential housing project in Riga and drafting agreements related thereto.
Rödl & Partner
Hailed as ‘truly professional‘, Rödl & Partner provides support on real estate acquisitions and construction projects, with a specialism in the agricultural sector. Kristine Zvejniece and Sanda Lace, who both have backgrounds in M&A and commercial law, jointly led the team. Associate Staņislavs Sviderskis, who focuses on asset purchase transactions, is also integral.
Practice head(s):
Kristīne Zvejniece; Sanda Lace
Other key lawyers:
Staņislavs Sviderskis
Testimonials
‘The team is truly professional, being able to find surprisingly creative solutions within the strict limits of the law.’
‘Stanislavs Sviderskis quickly “catches the ball” and wins the scores for the client.’
‘Exceptional service and client focus. Very pleasant attitudes across the company. Very orderly and organised.’
Key clients
KM Consulting UAB
VAN GRAAF GmbH, Van Graaf Latvia SIA(Peek & Cloppenburg Hamburg group)
Premier Restaurants Latvia – McDonalds franchisee
Valsts nekustamie īpašumi VAS (State Real Estates)
Bauer Spezialtiefbau GmbH
Alarius GmbH
Publisko aktīvu pārvaldītājs “Possessor’ VSIA
Swisscom Ltd
SIA “SALDUS MELIORĀCIJA”
Work highlights
- Advised and assisted UAB KM Consulting, a Latvian subsidiary of Norwegian investor, with respect to commencement of trout farm business in Latvia.
- Advised Alarius GmbH with respect to acquisition of the real estate portfolio consisting of more than 30 properties.
- Advised VAS Valsts nekustamie īpašumi, a state owned joint stock company, in respect of matters including the quality of construction works performed, delays in performance and the liability of the construction companies under relevant agreements.
Šķiņķis Pētersons
‘Experts in administrative and constitutional law litigation‘ Šķiņķis Pētersons is recommended for its skill in contentious matters, as well as its specialist knowledge of certain sectors including energy and education. Practice heads Matiss Skinkis and Martins Petersons are both experts in spacial planning and have strong track records in real estate and construction disputes resolution. Senior associate Mārtiņš Daģis is also highly recommended for construction disputes by clients.
Practice head(s):
Matīss Šķiņķis; Mārtiņš Pētersons
Other key lawyers:
Mārtiņš Daģis
Testimonials
‘Firm’s lawyers are experts in administrative and constitutional law litigation. In Latvia, it includes spatial planning and construction disputes, which is very important to us. Not many other firms can provide expertise in these matters.’
‘We have been working with Mārtiņš Daģis since early 2017. He successfully represented us in a complicated construction dispute concerning exclusive and historic place in Jelgava city and in another dispute with local municipality concerning illegal sale of public land. He has extensive experience in construction litigations that he expertly uses in our litigations. He is also an expert in spatial planning matters.’
Key clients
International School of Latvia
Gren Latvia
Euroaptieka
UPB
Rimi Latvia
Omnium Properties
1Home Group
Energoremonts Riga
Inhabitants of Āgenskalns, Rīga
Work highlights
- Represented Rimi Latvia in a court dispute against a neighbour, which allowed to open shopping mall “Aleja”, one of the largest Rimi shopping malls in Latvia.
- Represented energy manufacturer Gren in court proceedings, where individuals appealed against excessive noise caused by Gren’s CHP plant.
- Represented International School of Latvia in a court dispute with head architect, which allowed to change the architect and complete the construction proceedings of new wing and renovation of campus.
VILGERTS
VILGERTS is known for its proficiency in construction disputes as well as real estate M&A, chiefly in the retail sector. The firm is also notable for its specialist expertise, including aviation sector and environmental disputes work. Experienced commercial disputes lawyer, Gints Vilgerts, jointly leads the practice with counsel Arnis Salnajs, who joined the firm from the Latvian Chancery in 2022.
Practice head(s):
Gints Vilgerts; Arnis Salnajs
Key clients
Air Baltic Corporation
EMTA Group
BPM Capital
Estera Development
The State Environmental Service of the Republic of Latvia
Merks
Invalda
Rimi
Inova Baltic
East Capital Real Estate
LATIO SIA
Bauroc| SIA
Colonna
Zenith Capital Management
BAO AS
Dommo Grupa
Omniva
Saliena
VGP
PKN Orlen
Baltrade
ALTUM
Work highlights
- Advised Summus Capital OÜ on its high valued acquisition of DEPO DIY’s store in Imanta, Riga.
- Advised Summus Capital OÜ on its high valued acquisition of “Damme”, a leading shopping centre in Riga, Latvia.
- Advising Merks SIA on a number of major construction disputes major construction disputes.
BDO Law
BDO Law chiefly advises on disputes in the real estate and construction field, including public procurement. The firm also handles property related matters for high net worth individuals. Tax expert and corporate and commercial lawyer, Vita Liberte , leads the team jointly with investment funds specialist, Janis Zelmenis.
Practice head(s):
Vita Liberte; Jānis Zelmenis
Key clients
Tilts
Mira-G
Edgars Voļskis
Work highlights
- Representing Tilts, SIA – BDO Law in a civil lawsuit against Daugavpils City Council and an associated construction project company.
- Represents MIRA-G, SIA in dispute with architect office, designer “Arhiidea” regarding defective and incomplete building renovation project.
NJORD Law Firm
As as well as residential and industrial property developments, NJORD Law Firm also has expertise in forestry matters, a key industry in Latvia. Assistance for high net worth individuals is another core part of the firm’s work in the real estate field. Dmitri Nikolaenko, also experienced in tax, employment and immigration law, heads the team.
Practice head(s):
Dmitri Nikolaenko
Key clients
NEWSEC LV SIA
Park Hotel Kemeri SIA
SG Jurmala Estate SIA
SIA Plienciema 16
PL Holding GmbH
AVESTS SIA
Adventika Group SIA
SIA TAL Residence
PILGAARD SIA
WESICO PROJECT OÜ
Bronx Wood OÜ
Work highlights
- Advised WESICO PROJECT OÜ and Bronx Wood OÜ on acquisition of the Latvian company owned agricultural and forest land.
- Advised SG Jurmala Estate SIA on the residential development project in Jurmala.