RASK advises Lumi Capital in the aquisition of commercial space in Priisle Kodu development.
RASK advised Lumi Retail Property Fund, a commercial real estate fund managed by Lumi Capital, on the acquisition of nearly 1,500 square meters of retail space in the Priisle development project located in Tallinn. The Priisle Kodu project is being developed by Hepsor AS. The value of the transaction is ca EUR 2.7 million.
Marina Lapidus, RASK's co-head of real estate, advised Lumi Capital on the transaction, preparing the transaction documents and negotiating the contracts.
Lumi Retail Property Fund is a Baltic-wide real estate fund that specializes in neighborhood shopping centers close to home. The total volume of the fund's investments is planned to be 100 million euros within a timeframe of 20 years. The anchor investors of the fund are Swedbank pension funds.
Hepsor AS is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia. Hepsor is the first developer in the Baltic States to implement a number of innovative engineering solutions that make the company's buildings more energy-efficient and thus more environmentally friendly. The company's portfolio includes a total of 22 development projects with a total area of 140,000 m2.The shares of Hepsor are listed on the Nasdaq Baltic Main List by Nasdaq Tallinn.