TEGOS (formerly TGS Baltic) advised Colonna, one of the leading commercial property investors in the Baltics, on the sale of a portfolio of 11 Rimi grocery stores across Latvia, to Lumi Retail Property Fund, a fund managed by Nuve Partners.
The portfolio properties are characterised by their convenient locations and long-term lease agreements. Situated largely in regional towns, the stores are comfortably located for customers, ensuring ease of access and serving as essential daily shopping destinations for local communities. These high-traffic locations benefit from steady footfall, making them ideally sustainable for retail real estate investment.
We assisted our client in all stages of the transaction, including transaction structuring, negotiations, signing and closing as well as dealing with financing banks. The team included Jānis Bite, counsel in M&A, Dita Buša, senior associate in real estate and Rūdolfs Vilsons, senior associate in tax. Financial aspects of the deal were covered by Inese Hazenfusa, partner, head of Banking & Finance practice group and associate Karīna Narņicka – Čumakova.
