AVELLUM acted as the legal counsel to sellers on the sale of
Smart Plaza Obolon, a newly constructed shopping and entertainment center in Kyiv.
URE Holding Limited, a company from Dragon Capital Group, acquired the
properties.
AVELLUM provided legal support to the clients on the structuring
of the complex multi-party transaction, participated in negotiations regarding
the transaction documents and assisted with signing and completion.
Yuriy Nechayev, AVELLUM’s partner, commented on the transaction:
“ This transaction was
remarkable in many ways, including extensive and complicated negotiating
process and multi-party, multi-jurisdiction signing. It has also confirmed the
benefits of AVELLUM’s strong cross-practice expertise, which allows us to
remain on top of M&A, real estate, corporate, tax, and other issues, which
often arise in complex transactions like this one.”
Smart Plaza Obolon was opened in January 2019, and has a
leasable area of more than 9,000 square meters. It is one of the innovative
mixed-use complexes developed by A-Development, combining residential buildings
and shopping malls. UDP, a Ukrainian development company, acted as the
co-investor of the project. Smart Plaza Obolon is located in a densely
populated Obolon residential area in Kyiv near the Minska metro station.
The AVELLUM team was led by partner Yuriy Nechayev, with support
from associates Oleksii Maslov and Maryna Buinytska.