Cobalt has advised Braitin on its acquisition of the Prie Vilneles project in Markuciai from developer Realco.
"The construction of project Prie Vilneles started in May 2021," Cobalt informed. There are plans "to build 220 apartments in the complex rising on the left bank of the Vilnele river, with pedestrian and bicycle paths next to it. Residents will be able to enjoy the nearby green spaces as well, as the district falls within the territory of the Pavilniai Regional Park. After acquiring the project, Braitin, together with investors, plans to invest EUR 21 million in its development. The construction of the complex is expected to be completed at the end of 2022."
Braitin is an investment company that focuses on real estate development, as well as renewable energy projects related to hydropower, wind, solar, geothermal, and biomass energy.
Founded in 2006, Realco is a Lithuanian real estate development company, specializing in building and developing residential, public, and commercial projects.
The Cobalt team included Partner Arturas Kojala.