I Asset Management to develop a private student housing in Riga
2021 - 09 - 06
Asset management company I Asset Management shall develop a private student housing in Riga, next to the Academic Center of the University of Latvia. The project shall be implemented in cooperation with SIA MBC Capital and SIA Bonum Management. The total investment in the project shall reach EUR 12 million. The housing will be comprised of 240 rooms and its opening is scheduled for 2022.
The project in Riga is a part of I Asset Management student housing development strategy which aims to develop modern student housing across the Baltics and elsewhere in the Central and Eastern Europe. Over the next five years I Asset Management aims to develop and consolidate in excess of 4,000 rooms of student housing.
COBALT provided legal advice to I Asset Management throughout the transaction, including carrying out legal due diligence, advice on tax issues, negotiating transaction documents and assisting at closing. COBALT team included Managing Partner Dace Silava-Tomsone, Partner Sandija Novicka, Senior Associate Elīna Ločmele and Associates Juta Meimere and Vadims Zvicevičs.