Sorainen has advised the Titanium Baltic Real Estate fund on its acquisition of a Vilnius building housing Avia Solutions Group's headquarters. Motieka & Audzevicius advised Avia Solutions Group company AviaAM Leasing Service Centre on the share sale and leaseback transaction.
According to Sorainen, the Avia Solutions Group continues to be the only tenant of the building under a long-term lease agreement. The building was developed by the AeroCity Group.
The building is part of the Aero City campus project that is being developed by the Avia Solutions Group together with the Aero City Group, Motieka reported. The project will cover more than 50,000 square meters and include offices, hotels, and employee apartments.
The Titanium Baltic Real Estate fund is managed by Finnish asset manager Titanium Fund Management Company. The Avia Solutions Group specializes in aviation services.
"Foreign investors have appreciated our project, the group’s financial stability, and development plans," Aero City Group Director Justas Baltaduonis said. "The funds received after the completion of the transaction will allow us to continue to develop the Aero City project in the promising southern part of Vilnius, near the airport."
"This is the fund’s first investment in an office building," Titanium Baltic Real Estate Portfolio Manager Siim Rosenthal commented, "which perfectly complements and diversifies our real estate portfolio and will help us achieve our goal of becoming one of the largest real estate investors in the Baltic States."
The Sorainen team included Partner Kestutis Adamonis, Senior Associates Simona Stanciukaite, Justina Paskeviciene, Mindaugas Baniulis, and Julius Raskauskas, and Associates Gabriele Raizyte and Simonas Slitas.
The Motieka & Audzevicius team included Partner Rokas Jankus and Senior Associate Aivaras Grigas.