-- Real Estate --

Technology, Media & Telecommunications (TMT)

Real Estate

We work in all areas of law relating to real estate and construction. Our work includes drafting and negotiating lease, sub-lease and sale agreements or other transfers of buildings, premises and land; providing legal assistance in real estate development and investment projects; land planning; obtaining permissions from state and local authorities; managing turn-key or architectural design contracts; construction management; organising sub-contractor’s documentation; and handling client-manager-contractor disputes and construction claims in areas from civil engineering to oil terminal installations.

Experience

Over the years, the Firm has acquired know-how and valuable experience in a wide range of real estate projects (i.e. property acquisition, sale, construction, designing, zoning, financing, dispute resolution, etc.) carried out in connection with different types of property (i.e. land, shopping malls, logistic centres, industrial facilities, hotels, residential property, etc.). Below is a track record of our experience by each type of project or property.

By field of competence

Acquisition & sale

Construction & development

Financing

Arbitration & Litigation

Leases

By type of property

Office buildings

Shopping centres and retail premises

Logistic terminals and industrial facilities

Hotels

Acquisition & sale

Mega shopping centre in Kaunas;

Acquisition of 9 Maxima retail stores;

Acquisition and lease-back of Norfa property portfolio, one of the leading retail chains in Lithuania;

Acquisition and subsequent development of the commercial and residential projects in Vilnius (Vilnius office park, Scandipark) and Klaipėda (Riverside);

Mega shopping centre in Kaunas;

Acquisition of 9 Maxima retail stores;

Acquisition and lease-back of Norfa property portfolio, one of the leading retail chains in Lithuania;

Acquisition and subsequent development of the commercial and residential projects in Vilnius (Vilnius office park, Scandipark) and Klaipėda (Riverside);

Acquisition and lease-back of Vinges logistics terminal;

Acquisition and lease-back of Durapart factory in Panevezys;

Acquisition of Akropolis, Kaunas, the shopping and entertainment centre of approximately 60,000 gross letable area (the biggest real estate acquisitions in the Baltics so far);

Advising Kalnapilio-Tauro Grupe, the second biggest Lithuanian brewery, on the sale of its real properties in Vilnius;

Acquisition of the land plots through the sale of Ekfita UAB having the total value of LTL 13.2 million;

Acquisition of the shopping centre Ausra in Utena;

Acquisition of the shopping centre BIG in Vilnius;

Advising a Norwegian investment fund in a LTL 80 million acquisition of real properties in Vilnius and Klaipėda;

Sale of Dobrovoles logistics terminal;

Acquisition of the Hotel Takioji Neris in Kaunas;

Advising on the restructuring and subsequent sale to the international investor of the real estate portfolio leased by Senukai DIY retail chain;

Legal due diligence of the leading Lithuanian shopping and entertainment centres developers in Lithuania and Latvia;

Vilniaus Akropolis AB - preparation of an initial public offering (IPO);

Advising on the project of acquisition and development of Palanga SPA;

Developing a chain of Lithuanian service stations by global oil producer Shell and its subsequent sale;

Acquisition of real estate by the US Embassy in Lithuania;

Acquisition, construction and financing of a 24-floor, 240 room Reval Hotel Lietuva property;

Sale and acquisition financing of Radisson SAS Astorija hotel;

Acquisition, construction and financing of a 20,000 square metre Best Western hotel;

Acquisition, construction and financing of a 20,000 square metre modern commercial property Business Center 2000 in Vilnius.

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Arbitration & Litigation

Arbitration regarding sale-purchase of the shopping centre Gedimino 20, Vilnius;

Arbitration regarding sale-purchase of the commercial building of BMW centre in Vilnius;

Representing Philip Morris Lietuva UAB in the civil case regarding execution of the construction agreement for the construction of the tobacco factory;

Representing Vakaru laivu gamykla AB in the civil case regarding reconstruction of ship before courts of all instances;

Representing Pinus Proprius UAB in the civil case regarding procedures of territorial planning before courts of all instances;

Representing the landlord in the civil case regarding termination of the lease agreement of the building and eviction of the lessee before courts of all instances;

Arbitration regarding improper execution of the Agreement on Management of Construction Project and covering losses (Vilnius Court of Commercial Arbitration);

Litigation regarding improper performance of construction works, obligation to demolish the construction, covering losses, acknowledgment of the Transfer – Acceptance Deed of the Construction Works as void (Vilnius District Court);

Litigation involving Statoil Lietuva UAB, Baltic car service Klaipeda UAB, Viremdos investicijos UAB and other regarding invalidity of legal acts of municipality, real estate lease and sublease agreements, annulment of construction permit and act for recognition as fit for use, obligation to demolish the constructions, invalidity of mortgage (Klaipėda District Court);

Representing the client in the court dispute regarding adjudication of contract penalty and legal interest which occurred due to refusal to acquire the real estate (Vilnius District Court);

Representing the client in the court dispute with Kaunas Technology University regarding adjudication of the expenses incurred for improvement of the real estate (Kaunas District Court);

Litigation regarding avoidance of the real estate privatization transaction, obligation to return the building, obligation to start direct negotiations, acknowledgment of real estate sale and purchase agreement as void submitted to the State Enterprise State Property Fund, Tas Anas UAB, Swedbank lizingas UAB (Vilnius District Court).

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Contact :

Kęstutis Jaskutėlis

Phone: +370 5 2690700

Email: k.jaskutelis@glimstedt.lt

Lawyers:

Kornelija Bogniukaitė

Dainius Burdulis

Remigijus Jakutis

Jolanta Liukaitytė-Stonienė

Petras Navardauskas

Giedrė Rimkūnaitė-Manke

Linas Sesickas

Nominations and rankings:

The Legal 500: Europe, Middle East & Africa

Legal 500 (2011): GLIMSTEDT has a strong presence in the finance area, advising both the borrower and the lender. It also has a solid reputation in the corporate field and in dispute resolution matters. “The service is always excellent” say clients and praise the firm for its “practical approach and good support during negotiations”.

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Jogailos 4, 01116 Vilnius, Lithuania, Phone: +370 5 2690 700 Fax: +370 5 2690 701 E-mail: vilnius@glimstedt.lt

e-solution: Gaumina

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