Deka Immobilien has exchanged contracts to secure the purchase of the “Quadrum” office complex in the central business district of the Lithuanian capital of Vilnius for c.€156m. The seller is UAB Schage Real Estate AS, a Lithuanian subsidiary of the Norwegian developer and real estate portfolio company Schage Eiendom AS. The building complex will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal.
The “Quadrum” consists of the “East” and “North” portfolio buildings, which were built in 2016, and the “South” building, which is still under construction and scheduled for completion in November 2019. The building complex offers a total of around 44,000m² of space and is almost fully leased. The “East” and “North” office towers have received BREEAM “very good” sustainability certification. Purchase of the “Quadrum” allows Deka-ImmobilienGlobal to enter the market in Lithuania and further expand the global geographical diversification of the portfolio.