Primus has advised Newsec, an international real estate consultancy company on the launch of an auction platform called Newsecaukcionai.lt.
Newsec is an international real estate consulting company operating in Northern Europe and the Baltic countries. The company, which has been engaged in the organizing of auctions for both private and public sector organizations since 2016, brokers real estate investment transactions, provides real estate management services, manages lease and sale of commercial assets, and represents client interests in developing new projects and expanding existing ones. The company also conducts market research and analysis and provides licensed asset and business assessment services.
According to Primus, the Newsecaukcionai.lt platform "will provide an opportunity to inform a more substantial number of potential buyers about the real estate offered, to improve the dissemination of information, and to give more details about the objects being sold, including the insights of RE professionals on the use of an object or its potential conversions.”
Primus’ work included drafting the rules of participation in the auction platform, preparing the procedures and rules on personal data processing, and consulting on various privacy policy issues. The firm's team was led by Partner Ernesta Ziogiene.
