Newsec advised ECE European City Estates AG on sales of office complex TRIO in Vilnius (LT)

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.
Source: Newsec