TGS Baltic assisted SIA DARDA in selling the land plot in a strategic location in the centre of Riga, the capital of Latvia, to SIA Satekles Business Center 2 for the development of a new office complex.

19.01.2024 TGS Baltic assisted SIA DARDA in selling the land plot in a strategic location in the centre of Riga, the capital of Latvia, to SIA Satekles Business Center 2 for the development of a new office complex.

TGS Baltic assisted SIA DARDA in selling a strategically positioned land plot (total area 3,777 sq.m.) in a central district of Riga, the capital of Latvia, adjacent to the railway station and Rail Baltica infrastructure, to SIA Satekles Business Center 2 (previously Linstow TOBRE, SIA). The transaction value is EUR 1.3 million.

SIA Satekles Business Center 2 plans to develop a new office complex in this prime location to align with the city's evolving urban landscape.

This significant transaction presented unique challenges involving simultaneous sale of multiple land plots. All agreements were meticulously coordinated and signed concurrently to ensure the deal's success.

Linstow has an active ownership role in several major development projects within many property segments. Among these are offices, health properties, shopping centres, hotels, leisure, and parking properties. Linstow is a significant player in the Baltics shopping centres, offices, and hotel market. Linstow Baltic's parent company, Linstow AS, is wholly owned by Norwegian Awilhelmsen AS. Awilhelmsen AS is a family-owned investment company, whereas Linstow AS is one of several business areas. SIA Linstow Baltic (previously LINSTOW CENTER MANAGEMENT, SIA) manages assets in the Baltics. Linstow is a growing company and sees significant business opportunities in today’s market and in the longer term.

TGS Baltic senior associate, and attorney at law Armands Masulis provided all necessary transactional assistance to SIA DARDA. 

TGS Baltic is a top-tier full-service business law firm in Latvia, Estonia, and Lithuania, employing more than 200 lawyers across the Baltics http://tgsbaltic.com/