After receiving approval from the Competition Council, the purchase-sale agreement of the Technopolis business park, concluded by the investment company Lords LB Asset Management and the company Technopolis Lietuva, entered into force.
The Technopolis Ozas office campus located in Vilnius, near Ozas Park, has a new owner. All stages of the purchase-sale agreement of the office campus have been completed, and Lords LB Asset Management, the acquirer, have secured its leadership status in real estate investment (NT).
Giedrius Bernotas, the manager of the investment company Lords LB Asset Management said: “We work purposefully and consistently in the real estate market and we believe that we will be able to apply the acquired skills in the new purchase. This purchase is particularly important to us, as it corresponds to our aims related to investment in sustainable real estate, and in the Baltic States it is not easy to buy high-quality and large-scale commercial real estate.”
Baltic Opportunity, a closed-ended investment company designed for informed investors, managed by Lords LB Asset Management, signed the purchase-sale agreement with Technopolis Lietuva last November.
“Over the past ten years, we have developed Technopolis Ozas into a vibrant campus that meets the needs of various companies. With this announcement, we confirm that the sale of the campus has been completed,” said Niko Pulli, CEO of Technopolis.
Technopolis Ozas business park is an exceptional piece of real estate. It forms approximately one-tenth of the area of modern offices in Vilnius – 106,000m2 with around 140 companies that rent offices. The park consists of six buildings: Alfa, Beta, Gama, Delta, Penta and Nova. All of them have LEED sustainability certificates.
According to Bernotas, the Technopolis Ozas business park was purchased with funds raised by the investment company and a €125m loan granted by the agreement of two banks, Swedbank and SEB. The banks provided the loan in equal parts, but Swedbank acted as the agent for the transaction and ensured its smooth financing.
“At the same time, this transaction has become the largest commercial real estate financing project of 2023, not only in Lithuania but also in all Baltic countries, hence, complex solutions were needed for this. We are proud that Lords LB Asset Management chose Swedbank as the agent for this transaction, and we successfully ensured the smooth implementation of financing,” said Ignas Maceika, Member of the Board of Swedbank in Lithuania and Head of Corporate Customer Division.
Image provided by CONTENTUM Agency.
Europe Real Estate — an overview of real estate developments in European countries.
