Baltic Horizon Fund acquires Galerija Centrs Shopping Centre
Ellex in Latvia advised the public real estate fund Baltic Horizon in the process of acquiring 100% shares of Tampere Invest SIA, which owns Galerija Centrs shopping centre in the heart of Riga, Latvia. The 5-floor property complex consists of two buildings connected with a passage of glass roofed arcade. The net leasable area of the property is 20,073 m2 and the anchor tenants include H&M, RIMI, Massimo Dutti, Douglas, Lindex, Esprit, Gant, Marc O’Polo, Max Mara Weekend and other retailers.
The sale purchase agreement was signed by Northern Horizon Capital AS as the management company of Baltic Horizon Fund and Linstow AS. The purchase price is EUR 75 million and the transaction is expected to close by the beginning of June 2019. The transaction also involved complex refinancing with participation of several banks.
The client was consulted by Partner Inita Jurka,Senior associates Anete Dimitrovska and Marta Cera and Associate Ineta Kaņepe.
Baltic Horizon Fund is a regulated closed-end contractual investment fund registered in Estonia and managed by Northern Horizon Capital AS, a subsidiary of Northern Horizon group.
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