Ellex Raidla has advised Arealis on the sale of the Microsoft Office Building in Tallinn to LHV Pension Funds and Lumi Capital. Eversheds Sutherland advised Lumi Capital on the deal.
The main tenant in the building, which was formerly known as the Skype Building, is the Estonian branch of Microsoft’s Development Center, which focuses on developing cloud-based communication platforms and other Microsoft services.
AS Arealis is a subsidiary of AS Nordic Contractors that specializes in the development of real estate. It consolidates investments and development projects, for the most part, into commercial buildings and apartment buildings in Estonia and Lithuania.
LHV offers both actively and passively managed second and third pillar pension funds. The total value of its pension funds is EUR 1.3 billion.
Lumi Capital is a real estate investment management company serving private investors, pension funds from Estonia, and foreign property investors.
The Ellex Raidla team included Partner Martin Kaerdi and Associate Karin Tartu.
Editor's note: After this article was published, Eversheds Sutherland informed CEE Legal Matters that its team included Managing Partner Maivi Ots, Senior Associate Dmitri Zdobnoh, and Lawyers Erika Tuvike, Kristi Joemets, Jaanus Rihkrand.