COBALT advised real estate development and management company Capfield OÜ on obtaining an 85 MEUR financing from Luminor. A major part of the new loan was used to refinance its existing loans from Nordea Bank Abp. Capfield’s loan is backed by the company’s portfolio of shopping centres with a total value of approx. 183 million euros.
Estonian-based Capfield OÜ develops and owns commercial real estate and its portfolio includes Tondi Selver, Lasnamäe Bauhaus, Pärnu Maxima XXX, Mustakivi Prisma, Nautica Keskus and Lasnamäe Centrum.
Luminor is the third-largest provider of financial services in the Baltics as of at the end of March 2020.
COBALT’s team that included Partners Marina Kotkas and Aivar Taro and Assistant Lawyer Christine Mägi advised the client on all legal aspects of the transaction, including the drafting and negotiating transaction documents with Luminor bank.
Photo credit: nautica.ee