TGS Baltic has advised UAB XXT, which is controlled by UAB M.M.M. Projektai, on the sale of the S7 office complex to Eastnine. Sorainen advised Eastnine on the acquisition.
S7 is located in Zverynas, one of the oldest neighborhoods in Vilnius. The complex consists of four buildings. Based on the agreement between XXT and Eastnine, the latter will acquire three buildings in the S7 complex, totaling 42,500 square meters.
According to Sorainen's press release, the acquisition of the first business center was completed in February 2019. The acquisition of the second and third business centers is planned for the end of the second and fourth quarters of 2019.
The transaction value was EUR 128.3 million, which according to TGS Baltic is a record transaction in the office segment in the Baltic States and by far the largest acquisition of commercial real estate in recent years.
UAB M.M.M. Projektai is a real estate development and management company operating in Central and Eastern Europe that is owned by UAB Vilniaus Prekyba.
Eastnine is a Swedish investment company that is a major investor in office buildings in the Baltics. Eastnine’s shares are listed on the Stockholm Stock Exchange.
The TGS Baltic team was led by Partner Marius Matonis and included Associate Partner Sandra Bliuvaite-Sulciene, Of Counsel Donatas Zdanavicius, Associate Dominykas Uzkurnys, and Junior Associate Julija Skardziute.
Sorainen's team was led by Partner Kestutis Adamonis and included Senior Associates Simona Stanciukaite and Agne Sovaite and Associates Karolis Kunigelis, Lukas Vaisvila, Mantas Kuslys, and Egle Mazetyte.