COBALT advised a joint venture of Partners Group and Northern Horizon Capital in the sale of Vesse retail park in Tallinn to East Capital

COBALT advised Laurus, a joint venture of Partners Group and Northern Horizon Capital, in the sale of Vesse retail park in Tallinn to East Capital. The value of the transaction was MEUR 30.9.

The Vesse retail park is a big box type of retail property in Tallinn in which Bauhof, the largest DIY retailer in Estonia, has been operating its biggest store for more than 10 years. The other larger tenants are hypermarket Maksimarket and Masku furniture store.

Laurus holds a sizeable real estate portfolio in the Baltics which it acquired from BPT Optima for MEUR 163 last year. Recently Laurus confirmed its intention to acquire additionally Geneba’s Baltic portfolio, which includes also SEB bank premises.

East Capital manages close to 300 MEUR in real estate assets with a total of 250,000 square meters and more than 500 lessees in all three Baltic countries.

COBALT team consisted of partner Aivar Taro and associate Erki Parik.

We provided the client with full legal support relating to the transaction, including co-ordination of the due diligence process, drafting and negotiating transaction documents.