Ellex Klavins has advised SIA Verus Praedium on its sale of 14.45 hectares of land to SIA Riga Retail Park for the development of a new Saga shopping center. Riga Retail Park was reportedly advised by Sorainen.
The shopping center will be located beside an IKEA store near the border of Riga and Riga's Stopini district.
Ellex's team included Attorneys at Law Ilga Gudrenika-Krebs and Anete Dimitrovska and Senior Associate Inese Freivalde.
Editor's note: After this article was published CEE Legal Matters learned that Sorainen had advised the buyers on the deal. According to the firm, “Saga will be located next to the IKEA store and will be a unique concept, combining shopping with recreation, sports, and office facilities. The planned investment for developing Saga is approximately EUR 68 million.”
Sorainen’s team included Partners Lelde Lavina, Rudolfs Engelis, and Janis Taukacs, Senior Associates Jorens Jaunozols, Inese Heinacka, Renate Purvinska, and Kristine Erele, and Associates Andris Vilisons and Zane Akermane.
Subsequently, CEE Legal Matters learned that TGS Baltic and Deloitte Legal had advised CVI Dom Maklerski on financing provided to SIA Riga Retail Park for the acquisition.