Cobalt has advised Corum Origin on the acquisition and leaseback transaction of the ELKO Group headquarters office and warehouse in Riga for EUR 14.6 million. Ellex Klavins advised ELKO Group on the sale.
According to Cobalt, the property has a total gross-leasable area of around 9000 square meters, and the triple-net lease agreement is entered for the term of 15 years.
Corum Origin, a fund managed by Corum Asset Management, is an independent asset management company, registered in France, which invests in real estate located in Europe.
The ELKO Group is a distributor of IT products, solutions, and consumer electronics in Central and Eastern Europe. According to Cobalt, the acquisition of ELKO’s headquarters office is the first investment in Latvia for Corum, and the second investment in the Baltics.
Cobalt also advised Corum in its first transaction in the Baltics: its 2017 acquisition of the Prisma shopping center in Narva, Estonia as reported by CEE Legal Matters on July 13, 2017.
Cobalt’s team included Managing Partner Dace Silava-Tomsone, Partner Toms Sulmanis, Senior Associate Elina Locmele, and Associate Juta Gulkevica.
The Ellex team consisted of Partners Ivars Pommers and Inita Jurka and Associate Zane Miglane.