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COBAL represented UAB Imlitex Holdings in the sale of A-class business centre ARKA in Kaunas

2018-07-18

COBAL represented UAB Imlitex Holdings in the sale of A-class business centre ARKA in Kaunas. This is the first real estate transaction of such scope in the city.

Arka is an A+ energy class business centre of more than 11,500 sq. m. UAB Imlitex Holdings invested in this office building on Karaliaus Mindaugo avenue which opened for business back in March this year; the prime contractor was AB YIT Kausta. The business centre was fully occupied already when it was officially opened and accommodates office space for Swedbank, Helis, Happspace and others. The seller UAB Imlitex Holdings is among the tenants of the building. In total, Arka provides office space for more than 500 people.

Every company occupying the building has its break-out and entertainment areas for employees. With bicycling parking and changing facilities provided in the building, they can offer a bicycle-friendly workplace for their employees who cycle to work. In addition to underground and multi-storey car parks, the building will include EV charging stations.

The work of COBALT lawyers included drafting transaction documents, assisting the client in negotiations and advising on all transaction-related matters. The team comprised Partner and Head of Real Estate and Infrastructure Practice Group Simona Oliškevičiūtė-Cicėnienė, Managing Associate Artūras Kojala, and Associate Liucija Bitinaitė.