INDEXO Real Estate Fund, managed by Provendi Asset Management, has completed a new portfolio transaction, acquiring two shopping centers in Riga, Latvia, and Kuressaare, Estonia. The total transaction value is EUR 56 million, co-financed with support from Swedbank AS.
The Fund’s acquisition includes the “Damme” shopping center, situated in the strategically significant Imanta district of Riga, and the regional “Auriga” shopping center in Kuressaare, one of Saaremaa’s most modern and popular retail destinations. Collectively, the properties span in excess of 33,000 square metres. These newly acquired assets serve as strong regional hubs, having a stable tenant base and significant long-term development potential.
COBALT provided support to the Fund by conducting tax due diligence of the target companies. The legal assistance was provided by Partner Sandija Novicka and Specialist Counsel Sabīne Vuškāne from the Latvian office, as well as Specialist Counsel Tõnu Kolts and Junior Associate Kerstin Tang from the Estonian office.
INDEXO Real Estate Fund currently manages 10 properties with a total value of approximately EUR 175 million.
Leading experts
