Sorainen Lithuania has assisted Pontos Group and its Estonian subsidiary, Pontos Baltic, on the EUR 47 million sale of the RYO shopping center in Panevezys, in northern Lithuania, to EfTEN Real Estate Fund 4, managed by EfTEN Capital. Fort Legal advised the buyers on the deal.
The RYO shopping center has total retail area of over 24,000 square meters, and currently hosts 132 tenants, including Rimi, Jysk, H&M, and Avitela. The shopping center was built in 2005 and underwent reconstruction in 2014.
The Pontos Group is a Finnish private equity and real estate investment company operating in Finland, the Baltic States, and Portugal. EfTEN Capital is one of the largest commercial real estate fund managers in the Baltic States.
The Sorainen team consisted of Partner Kestutis Adamonis with Senior Associates Simona Stanciukaite, Agne Sovaite, and Evaldas Dudonis. and Associates Lukas Vaisvila, Karolis Kunigelis, and Monika Tukaciauskaite.
The Fort Legal team in Vilnius was led by Partner Ruta Radzeviciute-Meizeraite and included Partner Emilis Cicenas and Senior Associates Aurelija Grigoraviciute and Vadimas Maksimenka.