Prisma-Beta LLC, an affiliate of Panorama Group, has recently signed a general lease agreement with "Dniprovska Pristan" CJSC regarding the first construction stage of Shopping&Entertainment Centre "SKY MALL" located at 2 Generala Vatutina Ave. in Dniprovskyi District of Kyiv.

The total area of the first stage construction amounts to approximately 38 000 sq. m., wherein leaseable area approximates 21 000 sq. m. The term of lease is 15 years. Simultaneously, Prisma-Beta entered into a sublease agreement with the anchor tenant of the hypermarket – a known network retailer O’KEY Ukraine LLC, with a sublease term of 15 years, as well as into a number of sublease agreements with other tenants of the shopping gallery being part of the first project stage.

Vasil Kisil & Partners are legal advisors on the project and represent Prisma-Beta in a number of matters involving review and reshaping of hypermarket investment and loan supply conditions, structuring of hypermarket management relations, elaboration of efficient scheme of lease and subleases, etc.

Services provided by Vasil Kisil & Partners throughout the project included drafting the general lease agreement and sublease agreement with anchor tenant and negotiating its conditions with the parties concerned, as well as drafting the template sublease agreement, amendments to investment agreement and other necessary legal advice.

Real estate partner Oleksandr Khomenko assisted by senior associate Alexander Borodkin led Vasil Kisil & Partners’ team which advised on the project.

Vasil Kisil & Partners advise Panorama Group in management and sublease of Shopping&-Entertainment Centre "SKY MALL" first construction stage