ARZINGER congratulates INZHUR on expanding its commercial real estate portfolio and acquiring the Sky Park shopping and entertainment centre
ARZINGER congratulates INZHUR on expanding its commercial real estate portfolio and acquiring the Sky Park shopping and entertainment centre
The ARZINGER team provided comprehensive legal support to the Inzhur REIT investment fund in its transaction to acquire the Sky Park shopping and entertainment centre (Vinnytsia) from Dragon Capital Group. The transaction amount was $36 million.
ARZINGER's legal support included:
- Strategic lead of the transaction and coordination of subcontractors and technical consultants;
- Comprehensive legal due diligence of the assets and owners of the shopping and entertainment centre;
- Legal and tax structuring of the transaction, development and approval of transaction documentation;
- Support of the negotiation process;
- Advice on labour issues in relation to the performance of obligations to staff in connection with the transfer of the business;
- Approval of the transaction by the Antimonopoly Committee of Ukraine;
- Coordination of legal actions necessary for the transfer of ownership.
The Sky Park shopping centre is currently the largest and most expensive asset in the Inzhur REIT investment portfolio and the first transaction in Ukraine where a commercial property of this scale is transferred to the joint ownership of tens of thousands of fund investors.
The ARZINGER team is working on the project:
- Antitrust law: Senior Associate Mykhailo Lazoryshynets, Associate Olena Nasienkova, Paralegal Mariia Zaverukha
- Corporate law: Senior Associate Tetiana Zahorets, Associate Dmytro Chyzhevskyi, Junior Associate Iryna Chava
- Real estate: Infrastructure Practice Partner Sharapa Maryna, Managing Associate Olena Yurets, Associate Vladyslav Morozov
- Labour law: managing associate Kseniia Lotosh
Strategic management of the project was carried out by founding and senior partner Timur Bondaryev.
Note:
Inzhur is the first Ukrainian REIT (Real Estate Investment Trust) company, which allows Ukrainians to join forces to invest in large real estate projects. Co-owners receive income from rental payments and growth in the capitalisation of properties.
Sky Park Shopping Centre is one of the most visited shopping centres in Vinnytsia, with an area of 30,000 square metres and over 150 tenants (Ukrainian and international companies).