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COBALT advised French real estate investment company Corum Origin on the acquisition of DEPO shopping centre in Vilnius

2019-09-05

COBALT advised Corum Origin, a French real estate investment company managed by management company CORUM Asset Management, on the acquisition of the shopping centre constructed in Vilnius, Ukmerges street, in 2018 by DEPO, a Latvian retail chain selling construction and decoration materials and gardening supplies, and on the sale & lease back agreement of the shopping centre.

The DEPO shopping centre, which covers about 21,000 sq. m and has 450 parking spaces, is the second largest DEPO store in Vilnius. In total, DEPO has five stores in Lithuania: in Vilnius, Kaunas, Klaipėda and Panevėžys.

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. The acquisition is Corum Origin's first investment in Lithuania.

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, Associate Liucija Bitinaitė, Managing Associate Aušrys Šliavas and Associate Simas Paukštys.