Real estate investment and development company Capital Mill has acquired three shopping centres in Riga – Dole, as well as the shopping centres at Stirnu 26 and Nīcgales 2. The combined leasable area of the acquired shopping centres exceeds 25,000 m², with retailer Rimi serving as the anchor tenant at all three centres.
Capital Mill plans to continue investing in the development of the acquired properties. Renovation works at Dole are expected to commence shortly, while a renovation project is currently being developed for the shopping centre on Nīcgales Street.
“Our analysis of market trends highlighted significant potential in shopping centers in Riga’s residential districts—a key factor in our decision to acquire these properties. Located along people’s daily routes, these centers benefit from steady traffic and offer promising long-term prospects,” says Imants Krēsliņš, Head of Capital Mill in Latvia.
COBALT provided legal advice to Capital Mill on all three acquisitions, including conducting legal due diligence of the properties and advising the client throughout the transaction negotiations and closing process. The COBALT team was led by Managing Partner Dace Silava-Tomsone and included Senior Associates Krista Helmūte and Inga Tenisa, Associate Vadims Zvicevičs, and Junior Associates Līva Skrupska and Kārlis Ošs.
Dace Silava-Tomsone comments: “We are delighted to see these shopping centers in the hands of an experienced new owner. In the near future, we look forward to seeing Dole and the shopping center on Nīcgales Street transformed into even more appealing and convenient shopping destinations for local residents.”
Capital Mill is a real estate investment and development company founded in Estonia in 2008, operating across all three Baltic states. The company invests in commercial real estate and also provides development and asset management services. To date, Capital Mill has invested EUR 500 million in projects across the Baltic states.
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