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.
