BTA Insurance Company investment transaction in a multifamily residential sector in Riga
BTA Baltic Insurance Company has acquired a large residential portfolio in Riga from real estate private equity company Rentejas. It is the largest portfolio transaction in the multifamily residential sector in Latvia to date. The portfolio includes 7 residential buildings in three locations comprising 170 tenanted units that are well-located in the central part of Riga.
The parties have agreed to keep the investment value undisclosed. This is the first investment for the BTA Baltic Insurance Company of such a large scale in the private rented residential portfolio in Riga.
The client was advised by Ellex Klavins partner Ilga Gudrenika-Krebs, foreign counsel Zinta Jansons, senior associates Anete Dimitrovska and Anna Misneva, as well as associate Kristers Losans.
BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania, and Estonia.
SIA Rentejas is a Latvian and Austrian company specializing in rental house reconstruction and management, which also provides full range of property management services.
More information is available here.