Deals

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23.01.2019

PRIMUS DERLING advised Lumi Retail Property Fund on acquisition of its first investment in Riga

PRIMUS DERLING advised Lumi Retail Property Fund on acquisition of its first investment in Riga – shopping center of Anninmuizas.

Lumi Retail Property Fund has acquired the shares of SIA Anniņmuižas iela – owner of a retail shopping center Anninmuizas located in one of most densely populated districts of Riga – from local investment fund “HIPO LATVIJAS NEKUSTAMĀ ĪPAŠUMA FONDS I”.

The acquisition is an important milestone as it is the fund’s and Lumi Capital’s first investment outside Estonia.

Lumi Retail Property Fund is an Estonian fund managed by Lumi Capital. Lumi Retail Property Fund is specialising in investing in neighborhood shopping centres and grocery stores in the Baltic countries of Estonia, Latvia and Lithuania. The total volume of the fund’s investments will amount to EUR 100 million with a time period of 20 years. The anchor investor in the fund is Swedbank pension funds – the biggest provider of pension solutions in Estonia. More information available here.

PRIMUS DERLING assisted the client throughout the transaction, including due diligence, deal structuring, negotiations and documentation, as well as will assist in the post-closing implementations restructurings and lease related issues. PRIMUS DERLING team was led by Partner Kristine Gaigule- Saveja and included Senior Associate Zane Krecere-Jemeljanova and Associate Laura Skromule.

Photo: Lumi Capital

Contacts

Estonia

Advokaadibüroo
Derling Primus OÜ

Registy code: 14024560
VAT no: EE101866347

Liivalaia 45, 10145 Tallinn
Kaluri 2, 51004 Tartu

Latvia

Sporta str. 11, LV-1013, Riga

Lithuania

Konstitucijos av. 7,
LT-09308, Vilnius

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