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Sorainen and Cobalt Advise on Lords LB Sale of Klaipeda Shopping Center to Union

Sorainen and Cobalt Advise on Lords LB Sale of Klaipeda Shopping Center to Union

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Sorainen has advised the Lords LB Baltic Fund III on the share-deal sale of a shopping center in Klaipeda to the Union RE Core Fund I. Cobalt advised the buyer.

According to Sorainen, the shopping center has a total area of 17,000 square meters and is fully leased, with tenants including retail chains Rimi, Topo Centers, and Jysk.

The Lords LB Baltic Fund III is a real estate investment fund managed by Lithuania-headquartered company Lords LB Asset Management.

Launched in 2021, the Union Re Core Fund I investment fund is managed by Union Asset Management. The fund invests in commercial real estate leased by food retail chains.

The Sorainen team included Partner Kestutis Adamonis and Senior Associate Julija Kirkiliene.

The Cobalt team included Partner Simona Oliskeviciute-Ciceniene and Senior Associate Kostas Grigaitis.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.