Wed, Oct
56 New Articles

Primus Advises LHV Pension Funds and Lumi Capital Joint Venture on Investment in Talinn Apartment Buildings

Primus Advises LHV Pension Funds and Lumi Capital Joint Venture on Investment in Talinn Apartment Buildings


Primus has advised a joint venture of Lumi Capital and LHV pension funds on their July 2017 entrance into a transaction with a joint venture of Hepsor Kinnisvara and Tolaram Group to develop and acquire two apartment buildings in the new Sitsi Ounaaed development in the Pelgulinn district of Tallinn.

Sitsi Ounaaed, which is located on the area of a former textile industry at the corner of Sole and Sitsi streets in Tallinn, consists of four apartment buildings and one parking structure. LHV and Lumi Capital will acquire two of the apartment buildings, which include 127 apartments and some of the parking spaces. The sole investor for the strategy are pension funds managed by LHV Varahaldus, while Lumi Capital will manage the investments and is engaged in finding more suitable projects.

According to Mihkel Oja, Chairman of the Management Board of LHV Varahaldus, "the aim is to have long-term tenancy and management of rental apartments for the purpose of rental income."

Primus advised the joint venture of LHV pension funds and Lumi Capital in the transaction on preparing and negotiating all transaction documents. The Primus team consisted of Partner Ermo Kosk and Senior Associate Rutt Vark.

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.


Our Latest Issue