Sorainen has advised the Titanium Baltic Real Estate fund on acquiring Kesko Senukai’s stores in Vilnius, Lithuania, and Daugavpils, Latvia. Motieka & Audzevicius and Walless advised the sellers on the deal.
The Titanium Baltic Real Estate fund is managed by the Finnish asset management company Titanium Fund Management Company.
According to Sorainen, “Delta Turtas and SIA Daugavpils Project 1, the companies which own the stores, have been transferred to the fund by KS Holding, which is co-owned by the Finnish company Kesko, Arturas Rakauskas, and the investment group Zabolis Partners. The deal value is EUR 20 million.”
The Vilnius store, which opened at the end of 2021, has an area of 10,000 square meters. The real estate development company KS Holding invested EUR 10 million out of the total investments into the store of EUR 12.6 million. The leased area of the store in Daugavpils is 9,000 square meters.
Sorainen’s team included Partners Kestutis Adamonis and Eva Berlaus, Senior Associates Mindaugas Dominykas Baniulis, Julija Kirkiliene, Julius Raskauskas, Rasa Mikutiene, Liva Aleksejeva, and Andris Vilisons, Associates Jurgita Mikucioniene and Julija Terjuhana, and Assistant Lawyer Barbora Bernatonyte.
Motieka & Audzevicius’ team included Partner Rokas Jankus, Senior Associate Aivaras Grigas, and Associate Darius Amsiejus.
Walless’ team included Managing Partner Kristine Gaigule-Saveja and Senior Associates Andis Ozolins, Baiba Krievina-Sutora, Liucija Bitinaite