MAGNUSSON ADVISES EAST CAPITAL ON ACQUISITION OF RETAIL PROPERTY IN LATVIA
Magnusson advised East Capital Baltic Property Fund II on the acquisition of a retail property in Riga.
The retail property is a top quality new building with lettable area of 20 000 sqm which also includes 650 parking places. It is located on Deglava street in Riga, one of the main traffic arteries eastbound from the city, and in the middle of a densely populated residential area.
The property is 100 per cent leased on a long-term basis to Prisma, a subsidiary of the largest Finnish retailer, S Group. It was sold by a Finnish real estate development fund VCA Baltic Retail Fund, managed by Vicus Capital Advisors.
Magnusson was responsible for advising East Capital Baltic Property Fund II on all the legal aspects of the acquisition.
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