COBALT advised Lords LB Special Fund III, the fund managed by provider of investment management services Lords LB Asset Management, on the acquisition of UAB Vilniaus miesto projektai. The company manages the territory of former factory Audėjas in Vilnius.
In the territory it has acquired Lords LB Special Fund III intends to open a new 45 000 sq. m shopping centre Central Mall in 2018. The shopping centre will accommodate various fashion brands and sports equipment stores. An area of 9 000 sq. m will be dedicated to recreation rooms and sports clubs, another 3 000 sq. m to restaurants, and there are plans to provide cinema premises in the shopping centre. So far all the major shopping centres in Vilnius are located on the right bank of the River Neris.
Lords LB Special Fund III started its operations in spring earlier this year and will invest in development and/or income-generating commercial real estate properties in the Baltic countries.
COBALT advised Lords LB Special Fund III in all stages of the transaction, drafted the transaction documents, represented the client in negotiations and advised it on other transaction-related matters. The team was led by Elijus Burgis, Partner and Head of Corporate Transactions Department. The team included Associates Mantas Juška and Elena Vėgėlytė.