Sorainen Latvia has advised Plesko Real Estate on the sale of the Damme Shopping Centre, located in Riga, Latvia.
The property has a gross leasable area of 12,912 square meters. Plesko Real Estate is a subsidiary of the Swedish food retailing group ICA, which operates in the Baltics through the Rimi brand.
According to Sorainen, “the transaction involved separating the Damme Shopping Centre business from the other businesses of Plesko Real Estate by establishing a new company, and the subsequent sale of that company to Norwegian company New Agenda Partners.” The firm also described the transaction as "one of the largest in the real estate industry in Latvia this year.”
M&A aspects of the transaction were handled by a team led by Senior Associate Janis Bite, while real estate aspects were handled by a team led by Partner Girts Ruda.
