EfTEN Real Estate Fund 4 acquires RYO shopping centre in Panevezys for €47m (LT)

EfTEN acquires RYO shopping centre in Panevezys for €47m (LT)

EfTEN Real Estate Fund 4 has acquired RYO shopping centre in Panevezys, Lithuania for€47m. The deal is the second biggest investment in EfTEN’s history, following the purchase of Domina centre in Riga in 2016.

 

Previously owned by Pontos Group, RYO is the biggest shopping centre in Panevezys – a city of 89,000 inhabitants and a regional centre for over 150,000 people. The one-floor centre covers 24,300m² of leasable area and provides a parking lot for 950 cars. Centre was fully renovated by Pontos in 2014. The property is let to 132 tenants, including RIMI, JYSK, H&M and Avitela.

 

“Following the purchase of Kadrioru Business Centre, RYO is an important addition to our portfolio as it will start producing positive cash flow from day one, so EfTEN 4 is off to an excellent start,” said Viljar Arakas, CEO of EfTEN Capital.

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