All deals & cases

COBALT Represented Prosperus Asset Management in the Sale of North Star Business Centre in Vilnius to Baltic Horizon Fund

2019-09-05

COBALT represented Prosperus Asset Management real estate fund in connection with the sale of North Star business centre to Baltic Horizon Fund. The transaction is the largest in the Class B office segment in the Baltic States and the second acquisition by Baltic Horizon Fund of a Class B office building in Vilnius this year.

The 10,800 sq. m Class B North Star Business Centre was built in 2009 in Vilnius, Ulonų street. Currently, the whole area of the business centre is leased to such tenants as EIS Group Lietuva, Avon, Alma Littera. The building is at the intersection of two busy streets – Kareivių and Kalvarijų – an area in which numerous commercial real estate projects have been taking place recently.

Prosperus Asset Management was established in 2013 with the aim of developing the alternative investment market in the Baltic States and offering local and foreign investors the opportunity to invest in the rapidly growing Baltic market. Today it is a major real estate investment fund management company in Lithuania.

COBALT assisted the Client in negotiations, drafted and negotiated the transaction documents and advised on all transaction-related issues. The team consisted of Partner and Head of Real Estate and Infrastructure Practice Group Simona Oliškevičiūtė-Cicėnienė and Associate Liucija Bitinaitė.