Hepsor acquires property in Riga for major residential project

Hepsor Latvia OÜ, a subsidiary of Hepsor AS, has acquired a 100% shareholding in the Latvian company Starta 17 SIA. Starta 17 SIA owns a property located at Starta iela 17 in Riga. Three 14-storey apartment buildings, comprising a total of 250 apartments with a net area of 14,500 m², are planned to be constructed on the site. Phased construction is scheduled to commence at the end of 2026.

The total transaction price amounts to EUR 1.25 million. The overall investment in the development project will be close to EUR 40 million, making it the largest development project undertaken by Hepsor in Latvia.

COBALT provided comprehensive legal support to the purchaser, including legal and tax due diligence of the target, drafting of transaction documentation, and representation during negotiations.

Legal assistance to Hepsor was provided by Partners Dace Silava-Tomsone and Sandija Novicka, Senior Associate Inga Tenisa, and Associates Krista Helmūte, Toms Dreika, and Vadims Zvicevičs.

Hepsor is a real estate developer active in Estonia, Latvia, and Canada, specialising in both residential and commercial properties. The company’s portfolio comprises 25 development projects with a total area of 172,800 square metres. In Latvia, Hepsor has already developed 400 apartments, of which 95% have been sold. Looking ahead, an additional 514 apartments are expected to be completed in the coming years.

Hepsor announcement.