SKY SHOPPING CENTRE
Location
122 Kārļa Ulmaņa gatve – on
the A10 motorway which
connects Rīga and Jūrmalaение
Includes
About the client
Income property investment
with a stable anchor tenant and
easy management and
maintenance.
Specifics of the transaction
It was the first time we had
worked with the European
company acting as a buyer, and
it was their first acquisition in
Latvia. Cooperation was
facilitated by the fact that the
in-house lawyer of the
company was of Latvian
origin, spoke Latvian and,
most importantly, knew the
local peculiarities.
At the same time, it was
difficult to build and
strengthen trust with the
lawyer. She was far away from
Latvia, and intensely scrutinised every complication
that arose. This led to
numerous delays in the process
of preparing for the
transaction.
The company acting as a seller,
for its part, was in the process
of restructuring its assets,
which created complications
and required coordination with
additional parties.
The process
We had worked with the seller
before: we had successfully
concluded a similar property
sales contract with it several
years before and so we already
had an excellent working
relationship.
When the seller approached us
with its restructuring plans, we
realised that the case required a
special approach. The
transaction could be completed
in the shortest possible time,
provided we handled both the
sale of the property and the
restructuring issue.