Eastnine invests €128.3m in Vilnius office park (LT)

Eastnine invests €128.3m in Vilnius office park (LT)

Eastnine has signed an agreement to acquire Building I, II and III of S7, a newly built and sustainable A-class office park in Vilnius’ central business district. The properties have a total leasable area of 42,500m², offer 1,250 underground parking spaces and are fully leased to Telia Lietuva and Danske Bank Global Services Lithuania with an average duration of 6.4 years. The total transaction value amounts to €128.3m, representing a yield of 5.8%.

 

Located on Saltoniskiu 7, in close vicinity to the city centre in Vilnius, S7 office park consists of four adjacent office properties developed by M.M.M. projektai. Three of four buildings have recently been or will be commissioned during the coming year, and are expected to receive BREEAM Excellent certification. Building I, which was completed in Q4 2017, has already been certified BREEAM Excellent and has received several other awards such as Best office development in the Baltics (2018) and Most Vibrant Workplace in Central and Eastern Europe (2019).

 

”We are excited about the acquisition of this sizable, landmark asset in Vilnius, consistent with our strategy to acquire the most sustainable A-class office properties in the Baltic capitals and expanding our property portfolio to over 100,000m²,” said Kestutis Sasnauskas, CEO of Eastnine. 

 

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