We advised VPH, one of the largest commercial real estate developers in Lithuania; and Riga Retail Park, owner of one of the largest lifestyle shopping centres in Latvia, on receiving a loan totalling EUR 48 million from Rietumu Banka for refinancing. This has been one of the largest loan financing transactions in Latvia in 2023.

The lifestyle shopping centre Sāga is located next to IKEA store and is based on a unique concept, combining shopping for daily needs with sport, recreation, offices and a large food hall. More information about Sāga is available here.

Our assistance included full assistance to the client: reviewing financing documentation (the loan agreement and collateral agreements), participation in negotiations, and assistance with completing conditions precedent for the loan disbursement.

The project was led by senior associate Inese Heinacka with the assistance of partner Rūdolfs Eņģelis. The team also included counsel Renāte Purvinska, as well as assistants Gabriela Mora Petroviča and Kristers Pētersons.