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TGS Baltic and Sorainen Advise on M.M.M. Projektai Sale of Vilnius Office Complex to Eastnine

TGS Baltic and Sorainen Advise on M.M.M. Projektai Sale of Vilnius Office Complex to Eastnine

Lithuania
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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.

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COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

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