Baltic Horizon Fund (the Fund) announced earlier this year a plan to sign a sales purchase agreement to acquire Duetto I office property in Vilnius, Lithuania. Yesterday the sales purchase agreement was signed with YIT Kausta bustas. The purchase price under the agreement was €14.6m (excluding VAT). YIT Kausta bustas has also issued a two year guarantee for starting net operating income.
The property is located in the second high-rise office area of Vilnius, next to the newly completed western ring road. The building has 10 floors and underground parking space. Net leasable area of the Duetto I office building is 8,327 m². The property is of A class energy efficiency. The property is anchored by Lindorff and Pernod Ricard. The Fund also obtained a call option to acquire neighboring Duetto II when the building is constructed in the future.
