Sorainen advised VPH, one of the largest commercial real estate developers in Baltic states (Estonia, Latvia and Lithuania); and Riga Retail Park, owner of one of the largest lifestyle shopping centres in Latvia, on receiving a loan totalling EUR 65 million from Swedbank AS for refinancing. EUR 8.5 million of the financing will be allocated to future investment projects of shareholders of SIA “Riga Retail Park”. The financing will support the company’s long-term development and facilitate the shopping centre’s growth.
Located next to the IKEA store, SĀGA spans more than 57,000 m² and comprises a wide range of retail, dining, service, office, sports and leisure facilities.
Sorainen’s assistance included reviewing and negotiating the financing documentation, including the loan agreement and security documents, advising on the security package and related perfection steps, preparing and reviewing corporate approvals and ancillary documentation, as well as assisting with closing and post-closing implementation matters.
Our team
The project was led by counsel Inese Heinacka with the assistance of partner Rūdolfs Eņģelis. The team also included senior associate Roberts Prūsis, associate Imants Kreičmanis, and assistant lawyers Annika Līze Valtere and Annija Kuzma.
