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Europe Guide

Real Estate — Estonia


COBALT - Real Estate

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Band 1

第一等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Aivar Taro
- 3 partners
- 9 other qualified lawyers

What the team is known for Pre-eminent real estate department with an impressive team of experienced practitioners. Well equipped to handle structuring, financing and due diligence linked to high-value real estate transactions, including commercial development projects, as well as disputes. Regularly acts for leading developers and investors, and has additional expertise in relation to energy infrastructure.

Strengths Clients are highly satisfied with the team's all-round service, reporting: "They have a very professional team, and have all the resources with which to assist you."

Work highlights Assisted Porto Franco with the establishment of the Porto Franco Shopping Centre, including in relation to planning, leasing and financing.

Advised Geneba Properties on the sale of its real estate assets in the Baltic states to the joint venture company Laurus.

Significant clients Bauschmidt, BPT Real Estate, Capfield, Kaamos Group, Nelja Energia.

Notable practitioners

Aivar Taro has an outstanding reputation, with strong expertise related to commercial and industrial property transactions, as well as infrastructure. Also well versed in planning, he is lauded by clients as "a very good personality, who is very co-operative and pleasant to work with." Of late, he assisted Laurus with the sale of Vesse retail park to East Capital.

Liina Linsi is well regarded for her extensive real estate litigation experience as well as her transactional and planning expertise. Recently, she defended Elering in a case that went to the Supreme Court, against a landowner's compensation claim relating to power lines that encroached on the claimant's property.

Editorial for Borenius, now merged with COBALT

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Department profile by COBALT

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Ellex Raidla - Real Estate

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Band 1

第一等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Martin Triipan
- 3 partners
- 13 other qualified lawyers

What the team is known for Maintains an excellent standing in the Estonian real estate space, offering a comprehensive service to prominent investors and developers. Adept at handling leasing, construction and zoning matters, in respect of office, industrial and retail properties. Also acts for clients on environmental planning and litigation.

Strengths The team is praised for its commercial acumen. Clients remark: "They are able to place themselves in their client's shoes, and are commercially aware rather than having a purely legal perspective. They are business-minded."

Work highlights Assisted East Capital Baltic with the acquisition of Vesse retail park and the sale of the Nurmenuku shopping centre.

Acted for Lukoil International on the sale of its Estonian subsidiary company, which owned 37 Estonia-based service stations.

Significant clients Arealis, BDG Holding, Laurus, Ramboll Eesti, Trilini Energy.

Notable practitioners

The highly respected Jaanus Ikla has a long-standing reputation, with clients describing his approach as "typically calm and focused." His expertise spans transactions involving retail, office and hotel properties, as well as assets in the power and energy sector.

Risto Vahimets earns the respect of market commentators as a leading name for real estate transactions. His practice also encompasses M&A and construction matters, and his recent work includes advising Wilson Kinnisvara on the sale of the architecturally significant G4S office building in Tallinn.

Department head Martin Triipan enters this year's rankings on account of growing recognition, especially concerning land use matters. He is highlighted for his environmental planning work and is valued by clients for his "thorough knowledge" and for being "very efficient." He assisted AS Roger Puit with the sale of forestry land worth around EUR22 million.

Department profile by Ellex Raidla

The firms’ Real Estate team is widely recognised in the market and covers all aspects of infrastructure, commercial real estate and construction projects. The experience includes all aspects of transactions from due diligence to approvals and transaction negotiation and documentation. The team has profound practice in a wide range of projects including the construction, purchase, sale, expansion and/or lease of:

  • hotels (Radisson, Swissotel, Reval hotels)
  • shopping centres and shopping malls (Sikupilli, Ülemiste, Solaris)
  • offices (Schnelli Ärimaja, Nordea Maja, Liivalaia 13/15, Ülemiste City)
  • technological parks (Tehnopolis)
  • residential areas
  • windmill parks (including the largest wind-mill park in Estonia
  • power stations (construction of a new oil shale power plant in Narva and waste power plant in Iru, reconstruction of two energy blocks in Narva)
  • medical sector (City hospital of Pärnu)
  • industrial properties (pulp mill in Kunda)

The firm's lawyers have been and are very active in legislative drafting and have participated in the drafting of many related laws in Estonia. Especially by the Ellex practice group team members Mr Martin Triipan and Mr Jaanus Ikla.

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Client value Ellex for offering a full package of real estate services for foreign investors. Ellex has been involved in nearly all of the major transactions as well as landmark disputes that have taken place in Estonian real estate market. Our lawyers have been involved in transactions regarding to office buildings, shopping centres and factory buildings, we have advised on shopping centre zoning and construction mattes, in the auction sale process, on restructuring and refinancing, on the lease agreements, on the sale of immovables; on a production facilities sale-leaseback transaction and in implementing new financing solutions, etc. The firm has also very strong experience in planning, zoning and environmental matters, including planning and environmental litigation.


Sorainen - Real Estate

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Band 1

第一等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Pekka Puolakka
- 1 partner
- 6 other qualified lawyers

What the team is known for Outstanding team regularly acting on commercial real estate transactions together with environmental matters. Accomplished at handling construction, leasing, planning and disputes on behalf of prominent developers, investors and companies in sectors such as retail and energy.

Work highlights Acted for Impuls LTU on its acquisition of Spordimaja and its subsidiary, which owns two large fitness centres in Estonia.

Advised Olympic Entertainment Group on the EUR7 million development of a new casino in Malta.

Significant clients Estonian Technical Regulatory Authority, East Capital Baltics, Metsnik, Orthodox Church of Estonia, Statoil Fuel & Retail.

Notable practitioners

Paul Künnap has a burgeoning reputation among market sources, who describe him as "very thorough and smart." He is particularly strong in construction and real estate matters, including commercial property transactions, with additional expertise regarding M&A and tax.

Department profile by Sorainen

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Eversheds Ots & Co (a member of Eversheds Sutherland) - Real Estate

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Band 2

第二等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Randu Riiberg
- 2 partners
- 3 other qualified lawyers

What the team is known for Respected real estate group advising both Estonian and international clients. Handles a high volume of commercial and residential property transactions, construction mandates and disputes. Boasts Russian, Finnish and German language capabilities.

Strengths Clients appreciate the team's accessibility: "I value their responsiveness and instant direct answers."

Work highlights Advised Hilton on the Estonian law elements of a non-disturbance agreement with Swedbank and Olympic Entertainment Group.

Assisted Wendre on planning matters related to the reconstruction of its Pärnu-based factory, intended to increase the building's volume by a third.

Significant clients Denfor OÜ, Neutrum, Paldiski mnt kinnisvara OÜ, Pärnu Keskus, Remax.

Notable practitioners

Department head Randu Riiberg focuses on real estate transactions, construction projects and planning issues. Of late, he assisted representatives of private entrepreneurs with the reconstruction of Pärnu Airport.

Maivi Ots earns the respect of market commentators as a "smart, quick and reasonable" lawyer. A well-experienced practitioner, she regularly handles high-value financing involved in real estate transactions.

Department profile by Eversheds Ots & Co (a member of Eversheds Sutherland)

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TGS Baltic - Real Estate

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Band 2

第二等

Commentary from the Chambers Europe guide

Basic facts about the department
- Heads of department: Martin Tamme and Leonid Tolstov
- 2 partners
- 9 other qualified lawyers

What the team is known for A high-quality group that provides solid expertise in both contentious and transactional matters. Frequently instructed on disputes involving complex public procurement contracts, leasing and land use, as well as financing and tax planning related to real estate transactions.

Strengths Clients are impressed by the group's all-round quality of service. One source enthuses: "The firm provides excellent quality. We particularly appreciate their results-oriented approach and their speedy feedback."

Work highlights Assisted Appoint Invest and Aptitude Invest on a joint venture agreement, including leasing and refinancing of loans, in connection with the development of a shopping centre in Tallinn.

Acted for Tallinn University on a dispute with Archimedes Foundation relating to a public procurement contract in connection with one of the university buildings.

Significant clients Invego, Kodumajatehase, Maxima, Merko Ehitus Eesti, University of Tartu.

Notable practitioners

Martin Tamme has a well-established practice and is particularly noted in relation to construction and real estate disputes. Praised by market sources as "an intelligent man who does good work," he assisted 1Partner Advisory with the financial restructuring of a distressed real estate development in Tallinn.

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FORT - Real Estate

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Band 3

第三等

Commentary from the Chambers Europe guide

Basic facts about the department
- Head of department: Minni-Triin Park
- 2 partners
- 6 other qualified lawyers

What the team is known for Comprehensive real estate and construction offering, spanning transactional, financing and contentious mandates. Especially active on retail development projects, planning and public procurement issues, and regularly advises a range of clients such as investors, developers and construction companies.

Strengths Clients laud the firm's approach to client care: "Their attitude stands out in the market. They have a sincere interest in the success of our business, and in any aspect of their service it is visible that they are interested in a long-lasting relationship."

Other clients praise the team's commercial approach, reporting: "They are very good negotiators, and have a very effective, business-oriented approach."

Work highlights Assisted EfTEN Capital with its EUR24 million acquisition of Magistral shopping centre from Citycon, including in relation to due diligence and merger clearance.

Acted for Crowdestate in connection with setting up and running a real estate crowdfunding platform in Estonia.

Significant clients Capital Mill, East Capital, ERGO Insurance, Northern Star, URETEK Baltics.

Notable practitioners

Minni-Triin Park regularly advises investors and developers, and has particular expertise concerning the development and leasing of shopping centres. Clients praise her as "very practical in her approach" and appreciate that she is "results-oriented and a very good negotiator." Of late she assisted the Viru Keskus shopping centre with a number of issues, including a review of its leasing documentation.

Department profile by FORT

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Primus, Attorneys at Law - Real Estate

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Band 3

第三等

Commentary from the Chambers Europe guide

What the team is known for Proficient real estate and construction department, recognised for its handling of transactional mandates. Frequently advises Estonian and international investors, funds and developers on a range of matters, including complex financing, planning, leasing, development projects and construction issues.

Notable practitioners

Department head Ermo Kosk regularly handles real estate transactions, and has strong M&A expertise. He is well respected among market commentators, who describe him as "a pleasure to work with; he understands the market well and is constructive in negotiations."

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TRINITI - Real Estate

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Band 4

第四等

Commentary from the Chambers Europe guide

What the team is known for Noted firm with particular recognition for its busy infrastructure projects practice. Also acts on commercial real estate transactions, land planning, leasing and construction contracts, as well as handling disputes.

Notable practitioners

Tõnis Tamme is considered by sources to be a "smart" lawyer. He is especially noted for his expertise in relation to infrastructure projects.

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Band 1

Ellex Raidla

From the Chambers Europe guide

The highly respected Jaanus Ikla has a long-standing reputation, with clients describing his approach as "typically calm and focused." His expertise spans transactions involving retail, office and hotel properties, as well as assets in the power and energy sector.

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Band 1

COBALT

From the Chambers Europe guide

Aivar Taro has an outstanding reputation, with strong expertise related to commercial and industrial property transactions, as well as infrastructure. Also well versed in planning, he is lauded by clients as "a very good personality, who is very co-operative and pleasant to work with." Of late, he assisted Laurus with the sale of Vesse retail park to East Capital.

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Band 1

Ellex Raidla

From the Chambers Europe guide

Risto Vahimets earns the respect of market commentators as a leading name for real estate transactions. His practice also encompasses M&A and construction matters, and his recent work includes advising Wilson Kinnisvara on the sale of the architecturally significant G4S office building in Tallinn.

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Band 2

Primus, Attorneys at Law

From the Chambers Europe guide

Department head Ermo Kosk regularly handles real estate transactions, and has strong M&A expertise. He is well respected among market commentators, who describe him as "a pleasure to work with; he understands the market well and is constructive in negotiations."

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Band 2

COBALT

From the Chambers Europe guide

Liina Linsi is well regarded for her extensive real estate litigation experience as well as her transactional and planning expertise. Recently, she defended Elering in a case that went to the Supreme Court, against a landowner's compensation claim relating to power lines that encroached on the claimant's property.

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Band 2

Advokaadibüroo Vilgerts Loor

From the Chambers Europe guide

Kaido Loor of Advokaadibüroo Vilgerts Loor is well versed in handling real estate and construction mandates, as well as related tax issues. He regularly assists investors with commercial property transactions.

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Band 2

Eversheds Ots & Co (a member of Eversheds Sutherland)

From the Chambers Europe guide

Department head Randu Riiberg focuses on real estate transactions, construction projects and planning issues. Of late, he assisted representatives of private entrepreneurs with the reconstruction of Pärnu Airport.

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Band 2

TGS Baltic

From the Chambers Europe guide

Martin Tamme has a well-established practice and is particularly noted in relation to construction and real estate disputes. Praised by market sources as "an intelligent man who does good work," he assisted 1Partner Advisory with the financial restructuring of a distressed real estate development in Tallinn.

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Band 3

Eversheds Ots & Co (a member of Eversheds Sutherland)

From the Chambers Europe guide

Maivi Ots earns the respect of market commentators as a "smart, quick and reasonable" lawyer. A well-experienced practitioner, she regularly handles high-value financing involved in real estate transactions.

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Band 3

FORT

From the Chambers Europe guide

Minni-Triin Park regularly advises investors and developers, and has particular expertise concerning the development and leasing of shopping centres. Clients praise her as "very practical in her approach" and appreciate that she is "results-oriented and a very good negotiator." Of late she assisted the Viru Keskus shopping centre with a number of issues, including a review of its leasing documentation.

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Band 3

TRINITI

From the Chambers Europe guide

Tõnis Tamme is considered by sources to be a "smart" lawyer. He is especially noted for his expertise in relation to infrastructure projects.

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Band 3

Ellex Raidla

From the Chambers Europe guide

Department head Martin Triipan enters this year's rankings on account of growing recognition, especially concerning land use matters. He is highlighted for his environmental planning work and is valued by clients for his "thorough knowledge" and for being "very efficient." He assisted AS Roger Puit with the sale of forestry land worth around EUR22 million.

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Band 3

Law office NOVE

From the Chambers Europe guide

Urmas Volens of Advokaadibüroo NOVE focuses on a wide range of real estate matters, including transactions, leasing, planning and construction contracts. He also takes on a variety of disputes, such as transport and public procurement cases, and is commended by a market source as a "good specialist." 

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Up and Coming

Jesse & Kalaus

From the Chambers Europe guide

Piret Jesse of Jesse & Kalaus is a rising name in the market, with particular expertise in construction matters. A client enthuses: "She is bright, punctual and has an ability to analyse, solve and communicate complicated legal issues with incredible smoothness; her ability to see the big picture while being precise in small details is admirable." She assisted Ingman Group with investment agreements and planning issues linked to its real estate developments in Estonia.

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Associates to watch

Sorainen

From the Chambers Europe guide

Paul Künnap has a burgeoning reputation among market sources, who describe him as "very thorough and smart." He is particularly strong in construction and real estate matters, including commercial property transactions, with additional expertise regarding M&A and tax.

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