RASK consults on sale of Ammende Villa to former Skype shareholders.
Case
RASK advised on the sale of the Ammende Villa hotel in Pärnu to Kv3, a subsidiary of Ambient Sounds Investment. RASK prepared the entire seller’s documentation for the transaction.
From the professional perspective, the transaction was different from usual real estate transactions, because the property sold was:
Ammende Villa is one of the most unique and well-known villas in Estonia. It was built by Hermann Leopold Ammende, one of the richest merchants in Pärnu, in 1905. Since the mid-1990s, a boutique-style hotel has been operating in the villa under heritage protection. Entrepreneurs Rein Kilk and Hans H. Luik renovated the villa in 1999.
Kv3 OÜ is a 100% subsidiary of Ambient Sound Investments OÜ.
Ambient Sound Investments OÜ is an investment company established by the founders and former shareholders of Skype.
From the professional perspective, the transaction was different from usual real estate transactions, because the property sold was:
- not land, but a building, as the land below the villa belongs to the city of Pärnu;
- historical and under heritage conservation.
Ammende Villa is one of the most unique and well-known villas in Estonia. It was built by Hermann Leopold Ammende, one of the richest merchants in Pärnu, in 1905. Since the mid-1990s, a boutique-style hotel has been operating in the villa under heritage protection. Entrepreneurs Rein Kilk and Hans H. Luik renovated the villa in 1999.
Kv3 OÜ is a 100% subsidiary of Ambient Sound Investments OÜ.
Ambient Sound Investments OÜ is an investment company established by the founders and former shareholders of Skype.