{"id":4436,"date":"2019-08-05T08:55:51","date_gmt":"2019-08-05T05:55:51","guid":{"rendered":"http:\/\/eften.ee\/?p=4436"},"modified":"2019-08-05T09:04:23","modified_gmt":"2019-08-05T06:04:23","slug":"eften-real-estate-fund-4-acquired-shopping-and-business-centers-in-kaunas","status":"publish","type":"post","link":"https:\/\/eften.ee\/en\/eften-real-estate-fund-4-news\/eften-real-estate-fund-4-acquired-shopping-and-business-centers-in-kaunas\/","title":{"rendered":"\u201cEfTEN Real Estate Fund 4\u201d acquired shopping and business centers in Kaunas"},"content":{"rendered":"

\u201c<\/strong>EfTEN Real Estate Fund 4\u201d, a fund managed by \u201cEfTEN Capital\u201d AS, the largest commercial real estate fund management company in the Baltics, acquired the shopping center \u201cRiver Mall\u201d and business center \u201cRiver Hall\u201d in Kaunas.<\/strong><\/p>\n

\u00a0<\/strong>The acquisition of shopping and business centers was financed by \u201cSwedbank\u201d.\u00a0During transaction the buyer was advised by law firm FORT. The transaction is closed and the price is not disclosed according to an agreement between the parties.<\/p>\n

The seller of the objects is UAB \u201cSIRIN Development\u201d, which has developed\u00a0more than 300,000 sq. m.\u00a0of commercial and industrial real estate in Lithuania, Latvia and Russia.\u00a0The company is currently growing rapidly and through 2019\u00a0plans to invest 100 million euros\u00a0in logistics parks in the Baltic, Russian and Romanian markets.<\/p>\n

The location of the objects is perfect for their purpose: convenient office and retail buildings are\u00a0located in the city\u00a0center, on one of the main\u00a0streets of Kaunas; Jonavos Street, near the Old Town, in a rapidly developing\u00a0business area near the Neris River.<\/p>\n

According\u00a0to Viljar Arakas, CEO of EfTEN Capital, Kaunas commercial real estate market is developing intensively and can offer high quality attractive products for institutional capital.\u00a0\u201cKaunas is the fourth largest city in the Baltic States, we believe in its perspectives and think that today Kaunas\u2019 market has one of the best commercial real estate prices and quality\u00a0ratios in the region,” said\u00a0Arakas.<\/p>\n

\u201cRiver Mall\u201d is a\u00a0state-of-the-art\u00a0shopping mall with 11,280 sq. m of\u00a0space.\u00a0At\u00a0the moment there are 29 tenants: \u201cMaxima\u201d, IKEA, \u201cTopo centras\u201d and others.\u00a0\u201cRiver Hall\u201d business center with\u00a08,680\u00a0sq. m.\u00a0premises leased to 7 tenants.\u00a0The main tenants of the class A business center \u201cRiver Hall\u201d are IT companies \u201cHostinger\u201d, \u201cOracle\u201d, \u201cJuvare\u201d.<\/p>\n

\u201c\u201cRiver Hall\u201d and \u201cRiver Mall\u201d projects fit in well with our investment strategy: a\u00a0growing Kaunas market, an\u00a0extremely attractive project location, top tenants in shopping and business centers, high quality buildings, a professional\u00a0developer and property manager are\u00a0key factors leaded to decision to invest,\u201d said Arakas.<\/p>\n

\u201cWe are delighted to have turned the brownfield factory site into an attractive investment project, which has been valued by the buyer \u201cEfTEN Capital\u201d.\u00a0In our business every project has a beginning and an end, this deal does not mean that we leave Kaunas, on the contrary, we are satisfied with the results and at the moment we are developing \u201cKaunas Logistics Center\u201d at Martinavos str.,\u201d said\u00a0Laurynas\u00a0Kuzavas\u00a0, Head of \u201cSIRIN Development\u201d.<\/p>\n

The seller was advised by the real estate consultancy Newsec.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cEfTEN Real Estate Fund 4\u201d, a fund managed by \u201cEfTEN Capital\u201d AS, the largest commercial real estate fund management company in the Baltics, acquired the shopping center \u201cRiver Mall\u201d and business center \u201cRiver Hall\u201d in Kaunas. \u00a0The acquisition of shopping and business centers was financed by \u201cSwedbank\u201d.\u00a0During transaction the buyer was advised by law firm […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"class_list":["post-4436","post","type-post","status-publish","format-standard","hentry","category-eften-real-estate-fund-4-news"],"yoast_head":"\n\u201cEfTEN Real Estate Fund 4\u201d acquired shopping and business centers in Kaunas — EfTEN Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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