WALLESS Advised Lumi Capital on the Acquisition of Shopping Centre Juglas Centrs in Riga

Congratulations to Lumi Retail Property Fund managed by Lumi Capital for acquiring shopping centre Juglas Centrs and increasing its Latvian real estate investments to approximately half of the fund’s portfolio! 

Juglas Centrs has been acquired from RCH Management as a share deal.

Juglas Centrs has a 4,500 square meter lease area and its anchor tenant is Rimi. The centre also houses Lemon Gym and Pepco as well as several smaller tenants. 

Lumi Retail Property Fund is a Baltic-wide real estate fund that specializes in neighbourhood shopping centres 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.

WALLESS advised the buyer on all legal matters throughout the transaction and post-closing implementations. WALLESS team consisted of partner Kristīne Gaigule-Šāvēja, senior associate Kristīne Sakārne, senior associate Andis Ozoliņš.

Read more here.