On May 27 2019, Linstow signed a sale-purchase agreement for disposal of shopping centre Galerija Centrs to the Estonia-registered Baltic Horizon public real estate fund.
New page in the history of the pearl of Baltic retail
Galerija Centrs is a historic building in Riga Old Town. The sale-purchase agreement was signed by Northern Horizon Capital AS, a subsidiary of the Northern Horizon group, as the management company for Baltic Horizon Fund and Linstow. The transaction is expected to close in June 2019.
Financial aspects of the transaction
The transaction involved complex refinancing with the participation of several banks. Transaction value is EUR 75 million. More details can be found here.
We were privileged to advise the seller throughout the process, including vendor’s legal and tax due diligence, preparing transaction documents and negotiating them with the buyer and the banks.
Expert team working on the transaction
The transaction was led by senior associate Renāte Purvinska. Other team members involved in the process were partners Eva Berlaus, Lelde Laviņa and Jānis Taukačs, as well as senior associates Aija Lasmane and Jorens Jaunozols, and others.