Ellex Klavins has advised Baltic Horizon Fund on the acquisition of the LNK Center office building from SIA LNK Properties and SIA FIN.LV. The seller were advised by Fort Legal. The purchase price is approximately EUR 17 million.
The agreement was signed on July 4, 2018, with closing of the transaction to be finalized within one month.
LNK Center is an A class office building with a net leasable area of 7,455 square meters. The property is located in the new Skanste business district of Riga. The building is fully leased to five tenants, and Exigen Services and LNK Group occupy about 90% of the leasable area.
LNK Group is a real estate and infrastructure development and construction company in Latvia. As part of the transaction LNK Group will extend its lease agreement in the property for ten years.
Baltic Horizon Fund is a regulated closed-end contractual investment fund registered in Estonia and managed by Northern Horizon Capital AS, a subsidiary of Northern Horizon group. Baltic Horizon is the first public real estate fund listed on Nasdaq Tallinn exchange. Baltic Horizon Fund units are also listed on Nasdaq Stockholm.
The Ellex Klavins team was led by Partner Ivars Pommers and included Partner Inita Jurka and Associates Zane Miglane and Ineta Kaņepe.
The Fort Legal team was led by Partner Janis Likops and included Attorney-at-Law Roberts Prusis, Associate Liene Lazare, and Assistant Attorney-at-Law Laila Pudule.
Image Source: lnk.lv