Austrian investor ECE European City Estates, advised by NEWSEC, sold office complex TRIO to Swedish private investor Nordic and Baltic Property Group (NBP).
TRIO is a 20.5 thous. m² office complex built in stages during 2008 – 2013 and situated in the Northern part of Vilnius. The asset is well positioned B+ grade office complex, situated along the main Vilnius’ transportation artery Ukmerges str., connecting city centre, Vilnius-Riga road and future Western bypass. The property is almost fully leased, key tenants - Swedbank, Vaasan&Vaasan, Pieno zvaigzdes, Santa Monica networks and CSC.
“Vilnius office market demonstrates one of the best shapes during the last decade. With total occupancy of over 95%, definite level of rents and well balanced supply of projects under development, Vilnius office market enjoys from availability to offer sustainable opportunities for investors” - said Neringa Rastenyte, Head of transactions at NEWSEC Baltics.
The property was sold via share deal. Transaction amount is not disclosed.