Sorainen has advised the PPI Group on its approximately EUR 20 million acquisition of a site in Vilnius old town from Mikotelgroup to develop residential buildings with commercial premises. Adlex advised the sellers on the deal.
The PPI Group and the Lithuanian Union of Architects are currently conducting a closed architectural tender to select the best architectural and urban solution.
“Taking into consideration that this is an old town site that everyone values and is concerned about – we seek transparency,” said Dominykas Jasilionis, the PPI Group’s General Manager. “We want to make sure that all parties express their opinion and that representatives from the municipality as well as specialists from the Department of Cultural Heritage take part in the commission.“
The PPI Group is controlled by Stichting North Europe Equity Fund Management, registered in the Netherlands.
The Sorainen team consisted of Partner Ausra Mudenaite and Senior Associate Simonas Skukauskas.
Adlex says further information about the deal is confidential.