COBALT represented BaltCap Infrastructure Fund, a fund managed by private equity and venture capital funds manager BaltCap, in connection with its investment in the real estate development to be leased to Queen Morta school (Karalienės Mortosmokykla) and Childhood Garden pre-school (vaikų darželis „Vaikystės sodas“), bothprivately run by Austėja Landsbergienė. This is the first-of-its-kind deal in the field of education-business partnership.
The development of around 7 400 sq. m, designed to house a school and pre-school, is due to open in September 2019. The new educational establishment in the capital city’s Kalnėnai district will provide up to 800 pupil places, not including pre-school children. For 20 years, BaltCap Infrastructure Fund will retain ownership of the building and provide the building for use by Queen Morta school and Childhood Garden pre-school for a rent charge. The prime contractor in the project is UAB Merko statyba; investment value is estimated to be MEUR 11. The cost of construction of around MEUR 7.4 represents the greater part of the total investment value.
COBALT assisted the investor in negotiations, drafted and coordinated the transaction documents, including lease and construction documentation, and advised on all transaction related matters. The team comprised COBALT Partner and Head of Real Estate and Infrastructure Practice Group Simona Oliškevičiūtė-Cicėnienė, Managing Associate Aušrys Šliavas, and Associate Simas Paukštys.