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Cobalt Advises Corum Origin on Acquisition of Production Facility in Estonia

Cobalt Advises Corum Origin on Acquisition of Production Facility in Estonia

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Cobalt Estonia has advised French real estate fund Corum Origin on its acquisition of an industrial building that is fully leased to Harmet OU for 15 years under a sale and leaseback transaction.

According to Cobalt, the property built in 2017 as a turnkey project for Harmet’s factory is located approximately 30 kilometers from Tallinn’s city center. The building’s total surface is around 28,000 square meters, which, the firm reports, "makes it the largest production unit built in 2017 in Estonia."

Corum is an independent asset management company that is registered in France and invests in real estate in Europe.

According to Cobalt, Harmet specializes in manufacturing modular homes, modular on-site facilities, and various metal structures, "offering its clients complete solutions from design engineering to final assembly of the buildings."

Cobalt also advised Corum recently on the acquisition and leaseback transaction of the ELKO Group headquarters office and warehouse in Riga (as reported on by CEE Legal Matters on January 18, 2019). In 2017, the firm also advised the fund on its acquisition of the Prisma shopping center in Narva, Estonia (reported on by CEE Legal Matters on July 13, 2017).

The Cobalt team included Partner Aivar Taro and Assistant Lawyers Helen Sool and Mari Teder.

Cobalt reported that it was not able to disclose further information on the deal.