Walless has advised Lumi Retail Property Fund on its acquisition of the Juglas Centrs shopping center in Riga in a share deal from RCH Management.
According to Walles, “Juglas Centrs has a 4,500-square-meter lease area and its anchor tenant is Rimi … [and it] also houses Lemon Gym and Pepco, as well as several smaller tenants.”
Lumi Retail Property Fund, a subsidiary of Lumi Capital, is a Baltic-wide real estate fund that specializes in shopping centers. Walless reported that “the total volume of the fund’s investments is planned to be EUR 100 million within a timeframe of 20 years … [and that] the anchor investors of the fund are Swedbank pension funds.”
The Walless team consisted of Partner Kristine Gaigule-Saveja and Senior Associates Kristine Sakarne and Andis Ozolins.