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TGS Baltic Advises Akropolis Group on Renovation Agreement for Vilnius Shopping Center

TGS Baltic Advises Akropolis Group on Renovation Agreement for Vilnius Shopping Center

Lithuania
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TGS Baltic has advised Akropolis Group, UAB in negotiations with UAB Mitnija on the renovation of the  Akropolis shopping and entertainment center in Vilnius.

Although financial details of the transaction were not disclosed, TGS Baltic reports that "Akropolis intends to invest EUR 14 million in the renovation. It is expected that around 13,000 square meters of common and 36,000 square meters of commercial areas of the center – in total almost a half of the area of the building – will be renovated by November, 2019."

Akropolis Group, UAB manages companies developing real estate projects and provision of lease services in Lithuania, Latvia, Estonia, and Bulgaria. Akropolis Group, UAB is part of the Vilniaus Prekyba holding company, which controls retail and pharmacy chains and companies developing real estate projects and providing lease services in the Baltic States, Sweden, Poland, and Bulgaria.

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