One of the largest real estate deals in Latvia in Q2 2025

Prosperus Strategic RE Fund UAB UTIISIB completed the sale of the shopping centre T/C Mežciems in Riga to “Firma Madara 89 īpašumi” SIA for EUR 9.7 million. The transaction was recognised in market reports as the largest real estate deal in Latvia in Q2 2025, standing out in a period of cautious investor sentiment and limited transaction activity.

The deal marked a notable cross-border transaction between Baltic investors and demonstrated continued liquidity for mature, income-generating retail assets in Riga. T/C Mežciems is a fully leased shopping centre anchored by Maxima, providing stable long-term cash flow. The acquisition represents a strategic expansion for the buyer and reflects the growing role of local investors in Latvia’s retail real estate sector.

Ellex in Latvia team was led by partner Inita Jurka, tax advice was provided by the expert Eduards Dzintars.