RASK consults on acquisition of embassy buildings in the old town of Tallinn.

Case

RASK advised property developer Kuldlõvi in the successful acquisition process of a property on Rahukohtu 4, situated in the Old Town of Tallinn, from Suurlinna. The transaction included Kuldlõvi acquiring the Irish Ambassador’s residence and the Kingdom of the Netherland’s Embassy and the Ambassador’s residence.

Kuldlõvi AS is a subsidiary of Arealis AS founded in 2005.

Arealis AS is one of the largest owners and managers of Class A office buildings in Estonia, currently holding over 40,800 square metres of Class A office space in Tallinn. The portfolio of Arealis includes, among other buildings, Eesti Raudtee headquarters, the office of Skype Eesti, Nordea bank headquarters and the ECE Office Building in Tallinn. In addition, Arealis has a number of projects currently in development in Tallinn and two large-scale projects in Lithuania.

Suurlinna AS is a subsidiary of Altenberg-Reval AS founded in 1999 and engaged in the development and management of properties in Estonia. Altenberg-Reval is a company founded in 1997 and is also in the business of developing, managing, leasing and selling properties.