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COBALT advised Orion RE Income Fund I, managed by investment company Orion Asset Management, on the acquisition of the Sostena auto office building in Vilnius

2019-09-05

COBALT advised Orion RE Income Fund I, managed by investment company Orion Asset Management, on the acquisition of the Sostena auto office building from a real estate company belonging to the car dealer Sostena Group.

The fund’s company Augrama acquired from Sostena auto the office building of 11,000 sq. m, the parking lots and the commercial land plot of 0.4074 ha in Ukmergės street in Vilnius.

Sostena is the official authorised dealer of Volvo, Renault and Dacia cars in Lithuania and provider of repair and maintenance services for Jaguar, Land Rover and Nissan models in Vilnius. Sostena has branches in Lithuania’s five largest cities: Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys.

COBALT conducted legal due diligence of the property, drafted the transaction documents, including the real estate sale and purchase agreement and the lease agreement, represented the Client 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, Partner and Head of Tax Law Practice Group Rokas Daugėla, Associate Partner Artūras Kojala and Associates Liucija Bitinaitė and Simas Paukštys.