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TGS Baltic Assists on Opening of Akropole Shopping Mall

TGS Baltic Assists on Opening of Akropole Shopping Mall

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TGS Baltic has advised SIA M257 on the April 4, 2019 opening of Akropole, a shopping and leisure mall in Riga.

TGS Baltic describes Akropole as "one of the largest construction projects in Latvia in recent years, with the total investments in the implementation of the project reaching slightly below 180 million euros. The total area of the shopping mall and the office building is 98,000 square meters, 90,000 square meters [of which] are allocated for retail, while the rest [are allocated] for office premises."

In addition, the firm reports, "the spacious shopping mall includes an ice rink, the first Apollo Kino Cinema in Latvia with 9 auditoriums, 1,140 seats, and the first IMAX cinema in Latvia that combines the latest sound and image quality technologies (7 million euros investment), and an elegant and spacious Maxima XXX grocery store (3.6 million euros investment)."

The TGS Baltic team working on the project included Partners Linda Strause and Andra Rubene, Senior Associate Mara Stabulniece, and Associates Aija Kreicberga, Rudolfs Vilsons, Kalvis Krumins, and Janis Karsenieks.

Editor’s Note: After this article was published, Sorainen informed CEE Legal Matters that it had advised designer Sarma Norde, Apollo Kino and Megafort Latvia in relation to the opening of the Akropole shopping mall.

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COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. 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 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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