Real Estate & Construction
“The team is really strong on banking and finance and real estate finance-related matters.”
(Real Estate, Chambers Europe, 2016)
The firm’s real estate team advises local and international real estate developers, funds and other investors in complex real estate transactions (such as investments, disposals, joint ventures, capital raising and real estate finance transactions), as well as in matters related to real estate development, construction, planning, lease agreements and other day-to-day issues.
We are involved in a wide range of commercial, industrial, residential and infrastructure projects providing specialist assistance and making sure that clients’ interests are well protected and fulfilled.
Legal services include:
- Real estate development
- Real estate due diligence
- Planning, zoning and building rights
- Regulatory compliance
- Real estate M&A and joint ventures
- Legal audit of real estate
- Real estate financing
- Mortgages and other encumbrances
- Commercial lease
- Construction agreements
- Public procurement and PPP
- Dispute resolution
Our team’s experience includes:
- Representing Klaipėdos baldų prekyba JSC (furniture retail trade chain with 8 stores in Lithuania, operating under trademark name Berry) in conclusion of long term lease agreement of a multi-storey building and its adjacent territory in the central part of Riga, owned by Elkor group.
- Assisting companies in resolving many construction disputes, such as related to the construction of Viru Prison, Jõhvi Police House, Ülemiste Hotel, and a number of schools.
- Advising Lithuanian company UAB Hekon, a subsidiary of Orbis S.A., which is part of world‘s leading hotel operator AccorHotels, in concluding a preliminary sale and purchase agreement with the construction company UAB Merko būstas.
- Advising the international logistics company Katoen Natie on the acquisition of land for building a logistics centre in the Port of Muuga and on the conclusion of the construction contract. Total investment amounted to EUR 40 million.
- Advising DEPO DIY SIA, the largest construction material and household goods retail chain under the DIY concept in Latvia, in development of new shopping center.
- Advising independent wealth manager in the full process of acquisition of a major shopping centre of over 35’000 sq. m. in Vilnius, Lithuania. The legal assistance included full legal due diligence of the target, drafting and negotiation of the sale Purchase Agreement.
- Advising AS Norma on arranging for the construction of production facilities.
- Assisting national investment promotion agency Invest Lithuania in conjunction with the Ministry of Environment and the Lithuanian State Territorial Planning and Construction Inspectorate in reforming the existing territory planning and construction regulation.
- Representing UCTAM Baltics SIA, a subsidiary of UniCredit Bank Austria AG, on every day basis in various complicated transactions on sale of real estates, as well as management of the real estate.
- Assisting Vilnius City Municipality in connection to the start development and implementation of the PPP project on full refurbishment of Vilnius city street lighting.
- Advising Trelleborg Moulded OÜ on arranging for the construction of production facilities.
- Advising a leading real estate fund on the acquisitions of several commercial properties in Estonia, real estate financing transactions, lease agreements and day-to-day matters in respect of management of the real estate portfolio.
- Assisting Lithuanian real estate development and management company in various real estate acquisition and development projects (residential, commercial, etc.), including advice on organization of public procurement, construction works, joint venture activities, other project implementation questions.
- Advising Ministry of the Economy of the Republic of Lithuania in 11 PPP project feasibility studies in the transport and social infrastructure, including advice on public procurement.
- Advising several local and international banks (incl. DNB bank, UniCreditbank) on real estate finance issues, including restructuring of real estate finance transactions, enforcement of mortgages, etc.
- Advising TAV Airport Holding (leading Turkish airport operator) and companies of its group, including ATU Turizm Isletmeciligi A.S, TAV Latvia, Riga Airport Commercial Development, BTA, TAV Operation Services, on various aspects of lease and sublease of commercial spaces in Riga International Airport, including reconstruction process, development of the duty free shops in the airport and its further expansion in Riga International Airport.
- Advising the logistics company AS VIA 3L and an electronics industry business on arranging for the construction and subsequent leasing of production facilities.
- Advising FCG Aviation Development SIA, a part of Flight Consulting Group that has more than 15 years of experience in the business aviation area, on long term lease agreement of hangar and office premises in the Riga International Airport.
- Advising on the development of several major real estate projects including construction issues, such as Radisson SAS, Viru Centre, Tivoli residential area development project next to Tallinna Linnahall, Rakvere Põhjakeskus, etc.
- Assisting Latgran SIA, a daughter company of Estonian wood pellet producer Graanul Invest AS, in several real estate transactions.
- On request of European Bank for Reconstruction and Development (EBRD) conducted a due diligence and rendered an opinion of wind power station.
- Advising clients on planning a number of specific development projects, such as the Ports of Kunda, Muuga, and Saaremaa and the wind farms of Purtse, Varja, and Päite-Vaivina.
- Represented VGP Latvija SIA, Latvian subsidiary of the VGP Group, in a complicated real estate purchase transaction for construction of a logistics park at outskirts of Riga (2014 – 2017), as well as advised on construction design agreements.
- Advising Pro Kapital on selling Kristiine Keskus for EUR 105 million.
- Assisted the third largest Danish bank in terms of market share Jyske Bank AS in real estate transaction.
- Advising LSEZ Dan Store SIA, a company with several terminals in the territory of Liepāja special economic zone (handling and storing bulk cargoes in the port of Liepāja), on construction of new infrastructure of terminals and lease of land plots.
- Assisting SIA Delta Property (ABG Sundal Colliers groups’ company), operator of one of the biggest shopping centres (ALFA, Origo, etc) in Latvia, on possible risks connected with specific lease aspects, as well as advice on standard lease agreement.