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Cobalt Advises Prosperus Real Estate Fund III on Acquisition of Lithuanian Shopping Center

Cobalt Advises Prosperus Real Estate Fund III on Acquisition of Lithuanian Shopping Center

Lithuania
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Cobalt has advised UAB Prosperus Real Estate Fund III on the acquisition of a shopping center in Palanga, Lithuania, from Venturecorp Property Holdings Limited and UAB Capital City Group.

The shopping center, which has an area of 5,000 square meters and which was opened in 2014, currently houses 16 tenants, including Maxima, Eurovaistine, and Delano.

The total investment in the shopping center is over EUR 6 million. UAB Palanga properties, the developer and manager of the shopping center, claims to have invested EUR 5.2 million in the project, and the anchor tenant of the building, UAB Maxima LT, invested EUR 1.16 million.

Cobalt’s team consisted of Partner Simona Oliskeviciute-Ciceniene and Associate Liucija Bitinaite. 

Editor's Note: After this article was published, CEE Legal Matters was informed that Ellex Valiunas had advised Venturecorp Property Holding and SPC Legal advised the Capital City Group.

The SPC Legal consisted of Partner Povilas Karlonas and Associate Sandra Narmontaite.

Lithuanian Knowledge Partner

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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