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Cobalt and Pohla & Hallmagi Advise on Acquisition of Pirita Shopping Center

Cobalt and Pohla & Hallmagi Advise on Acquisition of Pirita Shopping Center

Estonia
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Cobalt has advised the Nasdaq Tallinn Stock Exchange-listed investment fund Baltic Horizon Fund on its EUR 12.2 million acquisition of the newly reconstructed Piirita shopping center in Pirita, Tallinn, from Matching Holding OU. The Pohla & Hallmagi firm advised the sellers on the deal.

The net leasable area of the Piirita shopping centre is over 5000 square meters, and the property has Rimi and MyFitness as anchor tenants. The acquisition yield is approximately 7.4%, and the acquisition was financed by capital raised in the course of the secondary public offering of the Fund. 

“I am pleased to announce that a centrally located neighborhood shopping center has been added to the Baltic Horizon Fund cash flow portfolio in Tallinn," said Baltic Horizon fund manager Tarmo Karotam. "Piirita Center is attractively compact center, it is located in Viimsi leading to the Merivalja street and Kloostrimetsa street corner. We believe that the proximity of the popular Pirita beach can also be one of the Center’s success guarantees."

The Cobalt team included Partners Aivar Taro and Egon Talur, Associates Kris Tammistu and Tonu Kolts, and Junior Associate Kadri Kasepalu.

The Pohla & Hallmagi team was led by Partner Juri Ploom, supported by Partner Toivo Viilup and Attorney Taimar Ehrlich.  

Estonian 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

All News about Cobalt can be found here.

 

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