TGS Baltic provided legal assistance to Skandinaviska Enskilda Banken AB (SEB) regarding amendments and new wording of the existing loan agreement for the loan amount of EUR 103,370,085, in connection with the acquisition by Laurus Properties of the commercial real estate portfolio from Geneba Properties N.V., which is mortgaged in favour of Skandinaviska Enskilda Banken AB (SEB).
The portfolio consists of 42 commercial buildings with the total area of 84 000 sq. m., of which the largest part is used by the Baltic branches of SEB Bank.
Within the scope of this transaction the task of TGS Baltic was to ensure establishment of changes to the securities in Latvia arising out of the loan amendments, which included the work with the loan and mortgage, commercial pledge and financial collateral agreements and with the documents necessary for their registrations, as well as at the end of the transaction issued a legal opinion on the changes to the established securities.
Skandinaviska Enskilda Banken AB is one of the leading banks of Europe, whereas Laurus Properties is an entity established by among the clients of Northern Horizon and Partners Group (a joint venture), which engages in investment and management of real properties in the Baltics and Gdansk, Poland.
In Latvia the legal assistance in relation to this transaction was provided by partner Inese Hazenfusa and associate Ivita Samlaja, whereas in Lithuania – by senior associate Ieva Dosinaitė and associate Donatas Šliora.
