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COBALT advised Corum Origin in the acquisition of the DEPO store in Kaunas

2019-11-22

Real estate investment fund Corum is the new owner of 22,000 m2 large DEPO DIY store built and commissioned in June 2019 – the parties have recently signed sale-leaseback agreement. The store is located on one of the major highways in Kaunas and on the major highway junction in Kaunas, which allows to go to any direction - Klaipeda, Riga, Vilnius or Warsaw. The store has more than 500 parking spaces and it has received one of the first A+ level of building energy efficiency certificates for such type of the buildings. The first DEPO DIY store in Vilnius has been acquired by the fund earlier this year.

French real estate investment company Corum Origin is managed by CORUM Asset Management, founded in 2011. The portfolio managed by CORUM Asset Management is worth more than EUR 800 million.

COBALT conducted legal due diligence of the property, drafted the transaction documents, including the real estate purchase and sale agreement and the lease agreement, represented CORUM in negotiations and advised it on all other matters related to the transaction. The project team consisted of Partner and Head of Real Estate and Infrastructure Practice Group Simona Oliškevičiūtė-Cicėnienė, Managing Associate Aušrys Šliavas.and Associate Liucija Bitinaitė.