Capital Legal Services has advised the ADG Group on the engagement of Lenta as a key anchor tenant for 36 of its 39 district shopping and entertainment centers.
According to a CLS press release, "in the course of providing legal support for the transaction, Capital Legal Services held successful negotiations with Lenta not just on legal issues, but also on commercial, construction, operational, and financial issues. The parties have noted the general complexity of the deal, mostly due to the fact that it was negotiated at the initial stage of the ADG Group project on reconstructing Soviet movie theaters into modern recreation centers."
Grigoriy Pecherskiy, ADG Group Managing Partner, described the transaction as "the largest package lease deal on the Moscow commercial real estate market both by the number of facilities and by the floor area." According to Pecherskiy, "it was important for us to find an experienced partner with a spotless reputation, quality portfolio and thought-out strategy for providing legal support for this transaction, and Capital Legal Services became such partner. We are pleased with the work done and, most importantly, with the achieved results.”
The Capital Legal Services team was led by Partner Elena Stepanova supported by Senior Associate Aleksey Zolotukhin.
Lenta did not retain external counsel on the deal.