We advised a company managed by the US investment fund W. P. Carey on the acquisition of a Baltic retail real estate portfolio worth EUR 177.5 million. The fund acquired it from UAB Baltic Retail Properties, a closed-end investment company for informed investors, managed by UAB Žabolis ir partneriai kapitalo valdymas.
The transaction involved one of the largest income-generating commercial real estate portfolios in the Baltics, comprising properties leased to the Kesko Senukai retail chain across Lithuania, Latvia, and Estonia. The leasable area of the portfolio totals approximately 184,000 sqm, while occupancy at the time of the transaction exceeded 99%.
This marks the largest investment real estate transaction in the Baltics since 2024, when the region last saw deals exceeding EUR 150 million.
Our services and team
Our Baltic team was led by partner Kęstutis Adamonis and counsel Karolis Kunigėlis. Other team members included counsel Vitalija Impolevičienė, senior associates Julija Kirkilienė, Zanda Frišfelde and Kristi Aer, and associates Radvilė Kvederaitė and Alise Igale.
We advised the client on all legal aspects of the transaction, including transaction structuring, drafting transaction documents, negotiations, transaction closing, and representation in matters involving financing banks.
