WALLESS advised Lumi Capital on acquisition of logistics complex near Riga Airport

Lumi Capital together with Estonian private investors has acquired logistics complex Plienciema centrs from CACEIS Bank S.A., Germany Branch.
The logistics complex of Plienciema Centrs is with a high potential due to its location nearby Riga airport. The area is rapidly developing and several logistics companies, shopping centers (including Spice, Maxima XXX, Depo) and residential areas are located in the area. This is Lumi Capital’s second investment in Latvia.
The logistics complex is rented out to two international logistics companies – Inter Cars Group which is largest automotive spare parts importer and distributor in Central and Eastern Europe and Deutsche Post DHL Group one of the leading global logistics providers.
The logistics complex will include an additional 6,285 m2 of leasable area development that will be completed in the summer of 2020.
WALLESS assisted the client throughout the transaction, including conducting of due diligence, deal structuring, drafting and negotiating the transaction documents. WALLESS will continue to assist the client in the post-closing implementations, restructurings and lease related issues.