Baltic Horizon Fund signed a sales and purchase agreement with UAB YIT Kausta, part of the Finnish YIT Corporation, to acquire the newly constructed Duetto II office building in Vilnius, Lithuania. The purchase price is approximately €18.3m, which corresponds to an entry yield of approximately 7.1%. The transaction is expected to close by the beginning of March 2019, once construction is complete and tenants move in.The Duetto II property is located on 6 Spaudos street, next to the Duetto I property also owned by Baltic Horizon Fund. The largest tenants in the property are Vilnius heating network company, Sweco and Rimi Lietuva.
“After the acquisition is completed, Baltic Horizon Fund will own and manage an attractive office complex with some of the top tenants in Vilnius,” commented fund manager Tarmo Karotam.
