Real Estate Experience

• Advising SEB Group, a leading universal bank in Sweden and the Baltics, operating in total in 21 countries, in a landmark transaction involving sale and lease-back of the entire real estate portfolio of SEB in the Baltics, a total of 63 real estate objects. With a value of approx EUR 200 million, it is the largest and probably most complex real estate transaction in the Baltics to date.

  Advising Kuehne+Nagel, a global leader in international forwarding, in sale and lease-back of its warehouse in Riga (area 10,200 m2) plus lease of new purpose built warehouse to serve the client until their new warehouse is built and operational.

  Advising Södra, an association of over 50,000 Swedish forest owners, to acquire multiple real estate in Latvia totalling 2,700 ha of forest, agricultural and other land in Latvia by drafting documentation and participating in negotiations between the parties and the banks.

  Advising TK Development, a leading European shopping centre and retail park developer on its sale of a major shopping centre in Riga to Meinl European Land, the listed Austrian real estate company, for EUR 40 million. The SORAINEN Latvian office had earlier represented the Danish client on its acquisition, development and sale of the centre, the first true commercial development project in Latvia.

  Advising Citycon, a Finnish listed property investment company, on its acquisition of Rimvesta, owner of the Mandarinas shopping centre in Lithuania, and in acquiring the Rocca al Mare Shopping Centre for EUR 60 million and a shopping centre for EUR 16.5 million in Estonia. These transactions were then cited as the major property M&A and benchmark transactions in Estonia and Lithuania.

  Advising a major regional real estate investment fund in enforcing landlord's rights against a tenant that moved out from 6,000 m2 premises and was declared bankrupt plus handling a court dispute regarding the claim amount and landlord's lien, lease renegotiation and achieving a compromise.

  Advising DHL, a global market leader in the international express and logistics industry, in drafting and negotiating a long term sophisticated commercial lease agreement for leasing a logistics facility to be built under the lease agreement.

  Providing transaction support to Metsäliitto Osuuskunta, one of Europe's biggest forest industry groups, on sale of their forest holdings in Estonia (over 5,100 ha) and Latvia (over 4,750 ha) to established Swedish forestry group Södra.

  Advising Norfolier, a major plastic film manufacturer, in its purchase of an office and industrial complex in Tallinn using an innovative transaction structure plus advice on environmental and other matters in what was one of the largest real estate transactions in Estonia at the time.

  Representing AFI Europe, an international holding and investment company forming part of Africa Israel Group, in legal due diligence of two mixed use projects in Riga plus assisting in drafting and negotiating transaction documents. A special challenge was the large scale and complexity of the projects (gross area approx 127,000 m2) plus the short deadline.

  Advising Deka Immobilien, the largest provider of open-ended real estate funds in Germany, in its acquisition of the BIG shopping centre in Vilnius for approx EUR 37 million. This is one of the biggest shopping centres in Vilnius with a total area of approx 26,000 m2.

  Assisting Dominante Capital, a well-known Latvian real estate developer, by preparing documentation for the new Dominante Park in Ķekava district, scheduled as the largest A-class industrial park in the Baltics with 35,000 m2 of production and warehouse premises and 3,500 m2 of office premises, representing an investment of EUR 130 million.

  Advising Kemivesi, the Estonian subsidiary of Kemira, a leading global manufacturer of precipitation chemicals, in complex expropriation proceedings involving extensive negotiations with the local government over the price of expropriated real estate and other material conditions of the transaction and initiating administrative court proceedings to challenge the legality of the proceedings.

  Representing Finmec, a market leader in heavy duty welding and machining, as seller/lessee in a sale-lease-back transaction of a 7,600 m2 factory close to Tallinn. Documentation included an extensive maintenance obligation to the lessor plus management of risks arising from environmental and sublease issues.

  Representing Genesta Property Nordic, an independent real estate fund management company with investment focus on Nordic and Baltic commercial assets, on its acquisition of the Kaunas Terminal logistics centre developed by YIT Kausta company and located within the Kaunas Free Economic Zone. Kaunas Terminal covers an area of more than 28,000 m2 intended for warehouses and offices.

  Advising Heitman Real Estate Investment Management, a multinational real estate investment management firm, on its acquisition of the modern Dobrovole Logistics terminal near Vilnius.

  Advising YIT Celtniecība, a real estate developer in the Nordic countries, Russia, the Baltics and Central Europe, on legal aspects of developing real estate in Riga with three apartment buildings for an investment of approx EUR 8 million. Services included an opinion on legal solutions for division, construction, joint use and sale of the real estate plus supporting documentation.

  Conducting legal due diligence for an Irish forestry fund on 196 forest and agricultural land plots and 50+ agricultural lease contracts, including analysing forest management issues, extensive negotiation and transaction support, drafting transaction documents plus assisting in setting up a special purpose vehicle for acquisition of target properties.

  Advising an international express and logistics company, the tenant, in drafting and negotiating the lease of a projected tailored logistics facility at Tallinn airport.

  Assisting Vicus, a Finnish property developer and investor, on sale of commercial properties in the Baltics to Catella Real Estate's investment fund Focus Nordic Cities. The portfolio consisted of office, storage and production facilities, a logistics centre and hardware store with a total leasable area of approx 22,000 m2 and total transaction value of approx EUR 24 million.

  Advising Akropolis Group, a leading Lithuanian shopping centre developer, on its sale of Akropolis Kaunas shopping centre. This is the largest real estate transaction in the Baltics to date.