Cobalt focuses on advising both local and international clients on high-profile real estate transactions, real estate disputes, commercial and industrial property development, and major energy projects in the Baltics. In recent years it has seen a significant increase in energy sector clients operating wind farms, solar plants, and district heating systems. Head of the real estate team Aivar Taro is noted for advising on high-value real estate transactions for both domestic and international clients. Liina Linsi specialises in real estate litigation and Sandra Sillaots handles construction and planning law, as well as environmental and energy law.
Real estate and construction in Estonia
Other key lawyers:
Liina Linsi; Sandra Sillaots
‘The team is highly qualified/experienced and can handle all potential cases.’
‘Aivar Taro – can deal with my requests immediately when needed.’
Nordic Real Estate Partners (NREP)
Enery Österreich GmbH
Corum Asset Management
Baltic Horizon Fund
Northern Horizon Capital/Gene Investments
BPT Real Estate
Pro Kapital Grupp
Pirita Tee Development
- Advised MCF Group Estonia on the development of the largest data centre in the Baltics and subsequent sale of the project to Three Seas Initiative Investment Fund.
- Advised Logassets on the sale of 50% of logistics property company Nordassets to the Baltics leading property development company Kapitel.
- Advised French private investment house Ardian on acquiring 100% of Nevel Oy from Vapo Oy, including its Estonian district heating assets.
The team at Ellex is frequently involved in major real estate transactions and construction projects, as well as real estate-related disputes. It is particularly strong in power plant and windmill transactions, as well factories and industrial plants. Practice head Martin Käerdi focuses on large real estate and infrastructure transactions and Martin Triipan is an expert in real estate and environmental law, as well as real estate-related litigation. Risto Vahimets is noted for his work on shopping mall and retail property transactions, while counsel Triin Frosch and Jaanus Ikla deal primarily with the construction of major infrastructure and energy projects. Ermo Kosk is also highly regarded.
Martin Käerdi; Martin Triipan
Other key lawyers:
Risto Vahimets; Jaanus Ikla; Triin Frosch; Ermo Kosk
‘‘Very deep pool of experts on partner level, good support from associate level.’
‘Ermo Kosk is very capable and professional on all real estate related issues.’
European Bank for Reconstruction and Development
1more Project OÜ
- Advised the shareholders of AS Graanul Invest (Biofuel OÜ, Neoinvesteeringud OÜ and Renergy OÜ) on the sale of 100% of the shareholding to Apollo Global Management Inc. investment funds.
- Advised Viljandi Real Estate OÜ on all aspects of a development project including acquisition of the property from the local municipality, planning and design, financing and construction of the store and development of adjacent properties.
- Advised Eesti Energia AS on the development and establishment of the first offshore wind park in the Baltic states with up to 2GW capacity.
FORT is particularly strong advising on high-value real estate transactions, cross-border property portfolio acquisitions, and commercial real estate for Baltic investors and green real estate funds. Its expertise ranges from planning, zoning and environmental matters, to representing clients in real estate and construction disputes before the civil and administrative courts Practice head Minni-Triin Park advises investors and asset managers on real estate-related acquisitions and associate Margus Kõiva specialises in zoning, planning and environmental matters.
Other key lawyers:
‘Competent people and great value for money in terms of the service prices.’
‘Patient, diplomatic, and knowledgeable.’
‘The team is very experienced and offers top notch legal service at a competitive price.’
‘Minni-Triin Park is one of the very best real estate and construction lawyers in Estonia, who has excellent industry knowledge and offers practical solutions to any problems which may arise.’
‘The team has impressive ability to work under pressure and not make any compromise on quality.’
‘The work ethics and efficiency of partner Minni-Triin is extraordinary. Her knowledge of this practice area is always up to date and she is always hands on whatever problem or question you have.’
LHV Pension Funds
Utilitas Tallinn AS
Capitalica Asset Management
LNK Group, (LNK Industries, Latvias Tilti)
Viru Keskus AS
Finnish Pontos group companies
Estonian Environment Agency
- Advised Capitalica Asset Management on its first Estonian investment: acquisition of a logistics complex by Capitalica Green Logistics Fund.
- Advised LHV Bank on its second loan portfolio acquisition (including the transfer of the whole securities package and leasing assets) from market-exiting Danske Bank, total portfolio for two transactions valued at approximately €750m.
- Advised LHV Pension Funds on acquiring three stock office-type commercial buildings near Tallinn.
TGS Baltic is known for its work in construction-related disputes and transactions, often acting on behalf of retail chains, manufacturers, residential development groups, and renewable energy and transportation operators. Practice co-head Peeter Viirsalu specialises in bankruptcy, insolvency, and reorganisation matters related to the real estate, infrastructure, and construction sectors. He leads the practice alongside Martin Tamme, who focuses on development project financing, PPPs, and advising major Estonian ports on construction-related matters. Also noted is associate Eva Arumets, who deals with due diligence on real estate projects.
Peeter Viirsalu; Martin Tamme
Other key lawyers:
‘In our experience the team in TGS is well balanced and the partners’ level of overall quality is very good. They are good in managing their internal workflow and thus are able to provide us with much appreciated rapid response times. It goes without saying that they know what they are doing.’
‘We work in our every-day matters with Peeter Viirsalu. He is our main contact. We value his exceptional responsiveness and availability. He is an experienced lawyer with good market knowledge and presence.’
‘The team is customer and solution oriented. Wide range of expertise. Proposing different alternatives, what to choose from. Always available with its prompt response.’
‘Calm, fast thinking, analysing, always available with its prompt response.’
‘What can I say, the team works together very well, the service is smooth and no problem or inquiry of ours has ever been “lost” or delayed between the lawyers. I guess this speaks a lot about the team’s co-operation and availability.’
‘Our construction and real-estate matters are handled by partner Peeter Viirsalu and his team. Peeter has been with us from the start and really knows our business to the last detail. He is exceptionally available and is always providing the best market practices alongside his advice.’
‘Peeter Viirsalu is our main contact. He understands our needs and our business and is excellent in finding solutions that work for us. Also we trust his ability to manage his workflow so that he and his team is always available for us.’
Port of Tallinn
City of Tallinn
Port of Tallinn
University of Tartu
- Advised the City of Tallinn on preparing for the reconstruction of Linnahall (City Hall) with a predicted investment volume around €140m.
- Represented the Port of Tallinn in an interdisciplinary bankruptcy case with two Supreme Court decisions involving the bankruptcy of a coal processing company that was operating its terminal on the property of Port of Tallinn.
- Advised Reterra Estate OÜ, EKE AS and OÜ Alfa Property on a central development in the city of Tallinn.
WALLESS (former Derling Primus)
The specialist real estate and construction team at WALLESS provides advice on real estate development, transactions, and environmental law across the Baltics. In recent years it has expanded its work to advise clients in the energy sector and it is particularly strong in infrastructure-related disputes, acting on behalf of local and state authorities, landowners, and real estate developers and construction companies. Practice head and managing partner Piret Kergandberg deals primarily with real estate transactions and environmental law. Margo Lemetti leads the Tartu team and focuses on real estate development and water and sewage utility projects. Associate Angela Kase is noted for her work in planning and construction dispute resolution.
Other key lawyers:
Margo Lemetti; Angela Kase
‘Their ability to provide detailed expertise while handling big picture tasks is excellent.’
‘Good team with quick response time.’
‘Piret Kergandberg was active to make proposals regarding future solutions and how to improve current city regulations and legislation.’
‘This firm has employed people with very specific skills for real estate development legal support.’
‘They are always agile, reacting fast, thinking about different solutions etc.’
FC Force OÜ
OÜ Adepte / AS Raisner
JNG Investment OÜ / Via3L OÜ
AS Emajõe Veevärk
Estonian Ornitological Society
Teatri Maja Residents OÜ
- Represented Adepte OÜ / AS Raisner in disputes concerning Varja and other wind parks in mainland Estonia.
- Represented Kantauro OÜ in several real estate development projects, including the construction of a spa and conference centre in Tallinn.
- Represented Lääne-Nigula municipality in the development of an onshore wind park planned in Estonia.
Eversheds Sutherland Ots & Co advises on planning and construction projects, negotiating real estate financing, and commercial and residential property transactions in the Baltics. Its client base extends to cover real estate funds, Estonian agriculture-related companies, and private healthcare providers. Practice head Maivi Ots is noted for her expertise in real estate transactions and financing, while Toomas Pikamäe specialises in planning and construction.
Other key lawyers:
AS G4S Eesti
Confido Healthcare Group OÜ
E-Piim Tootmine AS
Pharma Group OÜ
- Advised AS Tallinna Moekombinaat (TMK) on a reorganisation application to the County Court in order to overcome temporary payment difficulties, reasonably reorganise encumbrances and increase the profitability of TMK.
- Provided due diligence and contract negotiations for MM Grupp OÜ on the purchasing of cinema operations of Forum Cinemas OÜ in all three Baltic States, with combined worth exceeding €30m.
- Advised K78 OÜ (Newton Stuudiod) on the purchase of Kadaka tee 78D Tallinn and the purchase of a share of Nestin Rent OÜ. Also acted in the preparation of a loan agreement related to this transaction and an administrative agreement for the management of the Newton Stuudiod rental house.
The boutique practice at Loor specialises in real estate development, joint ventures, bank financing, disputes, and acquisition of permits. Its client base includes medium to large-size corporates and private investors, as well as construction and development companies seeking the sale and acquisition of undeveloped land or commercial real estate. Practice head Kaido Loor is noted for his niche expertise regarding third party rights to land, while Carry Plaks focuses on real estate and construction-related litigation.
Other key lawyers:
‘Its a small practice, so you know the key persons directly and well. I have been doing business with them for a while. A personal approach is the main character and quick management of issues.’
‘I think Kaido Loor stands out as a strong theoretical thinker, so he can surprise with new solutions, at the same time being very practical if needed.’
Mitt & Perlebach
- Represented Mitt & Perlebach in due diligence and acquisition of land where development land was sold by one seller and a target company holding a long term lease of a to-be-constructed manufacturing building (on the same land) was sold by another seller.
- Represented Hepsor in a complex planning situation where city demands, in violation of current spatial plan, cash and free land transfers for kindergarten against (~85000 m2 of) building rights.
- Advised Põhja-Eesti Taastusravikeskus on relations with the main contractor who claims delay in construction works because of Covid-19.
NJORD Law Firm has an internationally-oriented practice operating across the Baltic and Nordic countries. The team works alongside the firm’s litigation department to provide coverage on both non-contentious and contentious matters, and in recent years it has seen an increase in Japan-based clients seeking real estate investments in Estonia. Veikko Toomere focuses on restructuring Estonian construction companies and farms, while senior associate and head of the real estate department Jelizaveta Henno is noted for her advice to retailers on real estate development projects. Additionally, Karolina Ullman has niche expertise in helping Nordic clients seeking restitution for relatives’ property that was nationalised during the Soviet Union era.
Veikko Toomere; Jelizaveta Henno
Other key lawyers:
GVP Invest Estonia OÜ
Stoneridge Electronics OÜ
Kirkcong Property OÜ
Sveafastigheter Fersen AB
MBK Co., Ltd
Estonian Japan Trading Company AS
Cavotec Finland OY
TOP General Ltd (Ghana)
Invescore Japan Co., Ltd
EVIKO Ehitus OÜ
Applex Law Firm
Danish Embassy in Estonia
Kirkcong Property OÜ
3p logistics OÜ
Boumer Consulting and Engineering OÜ
DLW Eesti OÜ
Huber Manser Family Office OÜ
- Assisted Sveafastigheter Fersen AB in a cross-border reinvestment transaction with four Estonian commercial properties involved.
- Assisted Kirkcong Property OÜ in developing the group’s new office building in Tallinn for the company’s 300 employees.
- Advised Invescore Japan Co, Ltd through its subsidiary Alesco Ventures OÜ on investing into real estate and equity investments into Estonian start-ups.
NOVE is known for its particularly strong focus on planning and construction-related matters, including major infrastructure issues involving water, sewage, gas, and heating in Estonia. Kristjan Tamm heads up the team and is noted for his expertise in construction-related disputes and litigation proceedings. The team also handles real estate transactions.
‘The strength of the team is its good knowledge of the construction industry and experience in public procurement.’
‘My contact is Kristjan Tamm. Kristjan has provided expert advice in construction disputes. I appreciate his mental strength and good understanding of the local judicial system.’
‘Team head Kristjan Tamm stands out because of his degrees in both law and engineering which makes his legal advice fast, accurate and practical.’
‘In addition to legal knowledge, the team also has very good knowledge in the field of construction to solve complex problems that have arisen during construction work.’
‘Kristjan Tamm is very thorough and has a very good knowledge of construction and law to solve complex legal problems that arise during construction.’
Danpower Eesti AS
Merko Ehitus Eesti AS
Alvar MÜ TÜ
Reparo Ehitus OÜ
- Acted for Merko Ehitus Eesti AS in a €1m claim against a large local real estate developer.
- Prepared maintenance contracts Elering AS for three synchronous condensers valued at €83.5m.
- Drafted for AS TALLINNA SADAM new templates for construction contracts.
Sorainen acts for construction companies, state and local authorities, and Nordic developers and investors on the development to divestment of real estate projects, pan-Baltic commercial real estate transactions, and cross-border real estate disputes. Its clients are often active in the retail, automotive, and renewable energy sectors. Practice co-leader Paul Künnap is noted for his work on major, high-profile Estonian infrastructure projects such as the Tallinn-Helsinki tunnel, while co-head Piret Jesse advises private sector developers and capital-based real estate companies on construction and real estate transactions.
Paul Künnap; Piret Jesse
‘A large team with different kinds of expertise. You can have answers to all your questions.’
‘Piret Jesse is a great manager and high-quality leader for the legal team.’
‘A strong team with good knowledge of the industry.’
FinEst Bay Area Development
Estonian Ministry of Economic Affairs and Communications
Estonian Ministry of the Environment
Technopolis UMA Holding
- Advised Kaamos on various legal matters including development and lease agreement related matters, investment matters, sale and acquisition of property, as well as construction matters.
- Advised FinEst Bay Area Development on all aspects of developing the railway tunnel in Estonia, in particular on operational matters.
- Advised Infracapital and AMP Capital on the sale of their combined ownership interest in Adven, the leading provider of energy and water services in the Nordic and Baltic countries.
TARK advises real estate developers, construction companies, and investors on real estate and construction transactions, financing, and development in the Baltics. Clients include retail chains, infrastructure operators, and agriculture and farming corporations. Practice co-head Allar Aru specialises in real estate and construction transactions, such as wind parks, while fellow co-head Hannes Küün focuses on construction matters, regulatory work, and commercial real estate transactions. Managing partner Tanel Tark is also highly regarded for energy sector matters with a real estate and construction nexus.
Allar Aru; Hannes Küün
Other key lawyers:
‘Excellent knowlege of the market and the legal issues related to that.’
‘Tanel Tark has an outstanding understanding of the business and its legal issues.’
Arravete Biogass OÜ
UPM-Kymmene Otepää OÜ
Capital Well OÜ
EA62 Invest OÜ
Talets Grupp OÜ
Oma Fassaad OÜ
- Advised Metetra OÜ on the purchase of a majority shareholding in OÜ Raikküla Farmer and its group companies, with the value predominantly made up of its agricultural land portfolio and production facilities.
- Advised Aravete Biogaas OÜ on the negotiation process with Bioforce OÜ in regards to the construction of a new production plant to Aravete Biogaas OÜ, including negotiations with local municipality in regards to planning regulation issues and negotiation of FIDIC agreement matters.
- Advised Riigi Kinnisvara AS on its daily operations involving different major real estate and construction matters which are connected to the development, operation, and lease of public real estate, including also public procurement matters.
LEADELL Pilv is a popular choice for clients for major real estate and construction-related disputes and litigation. Practice co-heads Merilin Ojasaar and Pirkka-Marja Põldvere specialise in highly complex construction and real estate disputes, while also advising on the sale of real estate, drafting articles of association, and obtaining building permits.
Merilin Ojasaar; Pirkka-Marja Põldvere
‘All possibilities have been developed to do the best for the client. Correct and reliable service – all agreements and deadlines met Very good and thorough knowledge and explanation of the court system. Flexible communication with customers even during a corona pandemic. If necessary, also good contact with other law firms.
‘Client-oriented, very professional team.’
‘Easy to work with such competent individuals.’
‘Professional approach, tasks completed on agreed timeline, wide market knowledge, understanding and experience about similar cases.’
‘I highly appreciate the company’s dedication and professionalism.’
Petromaks Holding OÜ
Estkompexim Toitlustus OÜ
Otepää Rural Municipality Goverment
Timber Nordic Kingdom OÜ
OÜ Kruuson Kaubandus
Kadrikese Haldus OÜ
- Represented Estkompexim Toitlustus OÜ in two disputes over the execution of rental agreements and the claims coming from these agreements.
- Represented Kruuson Kaubandus OÜ in court regarding the termination of a mortgage set on real estate in the County Court.
- Represented Otepää Rural Municipality Government in disputes regarding the public procurement for building a new school and also in a dispute arising from a contract for services (planning and building the new school).
Magnusson is noted for its cross-jurisdictional advice regarding real estate-matters across the Baltics and Nordics, especially concerning cross-border transactions and real estate market entry for international clients. It is particularly strong in manufacturing, retail and energy sectors. The team is jointly lead by Kaidar Sultson and Toomas Mälberg, who specialise in real estate and infrastructure financing and transactions. Counsel and real estate transaction expert Lauri Paulus joined the team from Legalia Law Office in February 2021.
Kaidar Sultson; Toomas Mälberg
Other key lawyers:
Kahe Vee Projekt
DEPO DIY SIA
Maakri 36 KÜ
Spot of Tallinn
- Advised DEPO DIY SIA in relation to opening its first store in Estonia on both real estate and construction matters, monitoring competition and COVID-19 related restrictions.
- Advised Standard AS on drafting and performance of the contracts related to furnishing and construction works regarding furnishing of hotels in Sweden, Denmark, Belgium and Finland.
- Advised Procurator Eesti on obtaining the use of a permit for the building and the sale of a property.
The team at RASK focuses on Estonian real estate transactions, construction agreements, and real estate-related bankruptcy and tax matters. It also provides day-to-day advice to Baltic real estate investment funds, as well as advising on real estate portfolio management. In early 2021 real estate transaction expert Marina Lapidus was promoted to co-head the team alongside Ramon Rask, who specialises in real estate-related disputes, often acting on behalf of international real estate funds.
Ramon Rask; Marina Lapidus
‘The team consists exclusively of highly competent, friendly and skilfully selected people with excellent communication skills, with whom it is always pleasant to communicate.’
‘Marina Lapidus is a highly qualified attorney in her respective field. Her extensive background in real estate makes her a very reliable partner even in the most complex cases.’
‘The team has extensive and specific knowledge in construction and real estate litigation, which makes them unique. Mr Rask as well as being an outstanding lawyer has practical knowledge of running large real estate projects so understands the core business better than most competitors.’
‘My experience is mostly working with Ramon Rask. He is an outstanding lawyer with extensive knowledge in the field. That is something that makes him quite unique in the market and able to give good legal advice that helps solve problems that arise in complex construction projects/contracts.’
‘One of my favourite aspects about RASK is that I know I can rely on them. I can count on fast reaction, high quality, constructive solutions and all-in-all, a good service with the right attitude from the get-go.
‘RASK has a very tight-knit group of people that work extremely well together.’
‘I think RASK is a modern and professional law firm. Their style and work ethic suits us well.’
‘I mostly communicate with Ramon Rask. He is very competent in what he does, wouldn’t hesitate to recommend him to others. From real estate, finances to court disputes, he really does excel in those fields. Haven’t had any mishaps.’
Procedo Capital OÜ
Tallinna Teaduspark Tehnopol SA
Zenith Family Office OÜ
Trustee of AS Süda Maja (bankrupt)
Lumi Retail Partners OÜ
Nordlin Ehitus OÜ
St John’s School Foundation
MAVE Varahalduse OÜ
- Advised Procedo Capital OÜ, an SPV used by international investors through Zenith Family Office, on purchasing 100% of the shares in Pharma Plaza OÜ, an SPV for the acquisition of a major private medical centre in the heart of Tallinn.
- Advised Tallinna Teaduspark Tehnopol on all of its real estate and construction related matters.
- Represented Püha Johannese Kooli SA in the negotiation over a contract for the building of a new school house.
Cuesta Law Office
Cuesta Law Office advises on structuring real estate transactions, construction and real estate development management, and real estate transaction financing. It also assists with environmental impact assessments and real estate heritage law, and also represents clients in construction, land, and energy disputes. Practice leader Britta Oltjer advises on real estate transactions in the Baltics and is an expert in public procurements. Senior associate and property law specialist Eva Mägi joined from Advokaadibüroo Deloitte Legal in July 2021.
Other key lawyers:
Eva Mägi; Valeria Arsjuta
‘Cooperation with their real estate team lawyers has been very satisfactory. They have proven to us that they are very competent and well-informed in these matters.’
‘We like that they are client-oriented, always making sure they understand their client’s needs.’
‘In our opinion the attorneys of Cuesta Law Office have a high calibre. In addition to excellent local experience they have great international expertise in dealing with our real estate issues. We really appreciate their high service level and an availability to deal with our questions/problems professionally, quickly and efficiently.’
‘We highly appreciate their attorney’s solid, down to detail knowledge about our company’s needs and specialties. That enables them to be on the top-level with our bigger and more sensitive projects. They are very quick, precise and have extensive knowledge.’
‘Cuesta law firm is well known for its real estate matters, I know their attorneys already a long time ago from their previous work in top firms in Tallinn before establishing their own law firm. I appreciate their versatile practical experience in the area as well as the way they dive headfirst into complex matters and solve them quickly.’
‘Britta Oltjer – she knows what we need and how to achieve it. We have also worked with Valeria Arsjuta who is a brilliant young lawyer.’
‘Britta Oltjer is an excellent lawyer, quick, helpful, always reachable, she knows how things in real life are going, so she can see how your contract will be really working in practice. She is super negotiator, she is very good with people, wise and a very positive person, always with positive thinking.’
Galliks Invest OÜ
Korteriühistu Vana-Kalamaja 41/43/45 ja Küti 2A
Pro Kapital Grupp AS
AKCIJU SABIEDRIBA BMGS EESTI FILIAAL
Osaühing Dr. Kai Noor Silmakabinet
The real estate advisory team at Advokaadibüroo PricewaterhouseCoopers Legal OÜ advises data centres, real estate investment funds, and Baltic-based tech companies on real estate acquisitions and disposals, leasing agreements, and construction and environmental matters. It is also notable for its work in environmental regulations and sustainable development. Practice head Karin Marosov focuses on due diligence and project finance.
‘Karin Marosov is very professional.’
‘PwC’s team has wide knowledge of the real estate industry and is working with different clients in the field. Such vast experience and possibility to see different aspects of the business gives them a unique understanding of different legal aspects and has proven very useful several times during our cooperation.’
‘The people at PwC are very knowledgeable and very well connected in the community as well as the society at large. Whenever something needs to be discussed or negotiated, there is a high probability that at least one of the team members can give a certain person they directly know a call and thereby solve the situation relatively quickly.’
‘Karin Marosov takes initiative and puts the client’s interest at the front of everything else. She has the highest skillset in her field of expertise (construction and contract law) that I have seen in my professional career working in the construction industry.’
‘The team is always there for us, even if our request for advice is very urgent. We specifically enjoy that PwC Legal has top specialist sin public procurement and construction, which has been of great value when we need advice on interpreting, amending or disputing the provisions of construction agreements concluded as a result of public procurement.’
‘We have lately been working with Karin Marosov regarding one very large construction agreement. We felt very much taken care of with her advice and easily understandable explanations on very difficult topics. I was very impressed by how she invested time on understanding all the technical details of the object of the agreement and thereafter gave practical advice taking into account the business needs and objectives of the company. She truly is a lawyer who is oriented to fixing the problem and not creating unnecessary legal disputes.’
‘It is most convenient to receive legal and tax advice for my real estate issues from one place. I also appreciate their capabilities in the Baltics, where I have needed their help.’
Aktsiaselts Eesti Raudtee
Salma Baltic Apartments OÜ
Energiaturu Võrguehitus OÜ
Espak Ehitustööd OÜ
Stell Eesti AS
Helland Baltic OÜ
- Represented Aktsiaselts Eesti Raudtee (Estonian Railways) in a dispute with Finland-based rail traffic safety provider, Mipro OY over a global public procurement contract for the renovation of the signalling systems for nearly 80km of railway track. The contact had a value of €16.5m.
- Represented Linnakodu OÜ in negotiations and purchase of approximately 700 residential apartments.
- Advised Corle OÜ on drafting a complex construction agreement for establishing a high-speed internet connection to 1,747 addresses with a state subsidy of €2.5m.