Sorainen has advised Linstow, a shopping center developer and manager in the Baltic states, on its acquisition of real estate consisting of several separate buildings and a site exceeding 3 hectares in Riga, near the Alfa Retail Park.
The real estate was acquired for future commercial development purposes, and the deal is valued at over EUR 3 million. According to Sorainen, "the transaction involved several legal obstacles which the parties had to deal with, such as divided property and separate rights of first refusal. For this reason, closing of the transaction took some two years."
According to Sorainen, the sellers were a "SIA Smerla Terases, represented by its then-board member Alvis Krasovskis and attorney-at-law Evita Priedite."
The Sorainen team was led by Partner Lelde Lavina, supported by Associate Jorens Jaunozols.
Editor's Note: This article has been updated to correctly identify the sellers.