We provided full legal support to the Finnish special mutual fund Titanium Baltic Real Estate (Titanium) in its acquisition of the Ozols shopping centre in Riga from KS Holding, a real estate company co-owned by Kesko, Arturas Rakauskas and Zabolis Partners. The transaction was structured as a share deal and is Titanium’s first acquisition in Latvia.
About Ozols shopping centre
The 30,000 m2 shopping centre Ozols is the Kesko-Senukai flagship store in Latvia and is particularly special for a unique feature: a big oak growing in the middle of the complex. The asset was awarded the BREEAM In-Use “Very Good” environmental certification.
The property was acquired back in 2016 by KS Holding, which implemented a massive redevelopment project by changing the shopping centre’s outdated Azur concept into a brand-new DIY destination store as well as enlarging its GLA. The property is anchored by Kesko-Senukai and RIMI supermarket on a long-term basis.
The Sorainen team was led by country managing partner Eva Berlaus, partner Rūdolfs Eņģelis and counsel Jānis Bite, and included Ieva Zariņa, Andris Vilisons, Jūlija Triščuka, Jūlija Terjuhana and Māris Simulis.