Good for Business, Lithuania, Real Estate

"We can confirm that Grinvest and its partners have acquired this asset, situated in Vivulskis Street. We cannot provide any more detail due to a confidentiality agreement but we will announce plans and investment later," told Antanas Danys, a spokeswoman for the company.

The building was sold to Sinapse, a recently established company, in the middle of November. According to the Center of Registers, Grinvest PTE owns 32.5% in Sinapse, Lithuanian real estate developer Mano Sala owns 33.3% and OP Grupe has 33.3%.

But the land lease rights for the land under the building still belong to Vseven, a company owned by a Chinese citizen Zhan Biao Wang. The latter's company Alsana bought the Snoras HQ building from its bankruptcy administrator for 5 mln euros in August, 2017. It was reported then that the company plans to invest around 3 mln euros into the building renovation.