EfTEN Real Estate Fund 4 has acquired a complex of 3 commercial properties in Vilnius, beside the highway to Mol\u0117tai, from Arginta Group, in a sale and leaseback transaction.<\/p>\n
The complex consists of three buildings with a total of over 16,000 sqm of industrial, logistics and office space. Properties were built in 2007, 2012 and 2018 with high-quality materials and state-of-the-art technologies to meet modern tenants\u2019 needs, and include solar panels, wind turbines and charging stations for electric cars.<\/p>\n
Situated in a growing innovation and manufacturing district, the buildings are just 12 km from the Lithuanian capital\u2019s city centre and 15 km from Vilnius International Airport. Good access to other parts of the country thanks to the location on the A14 highway, which will be further improved by Vilnius ring road extension towards A14.<\/p>\n
The seller, Arginta Group, upon closing of the transaction also signed a long-term lease agreement and will continue using the premises. Other tenants include Armila, one of the largest international wholesale pharmaceutical distributors in Lithuania, Brolis Semiconductors, a producer of finest infrared laser products, and Arginta Engineering, which designs, manufactures and exports customized industrial equipment.<\/p>\n
\u201cWe\u2019re pleased to see the interest of many investors and look forward to long and successful partnership with EfTEN. We aim to focus on our core business and intend to invest freed up capital in our main business activities. One of our priority projects, where we aim to use the freed-up capital, is the development of the Manufacturing Innovation Center next to the properties sold in this transaction. This Centre will be a place for companies of all sizes to test and develop their innovations,\u201d says Arginta Group CEO Gintautas Kvietkauskas.<\/p>\n
\u201cThe Arginta complex is our fund\u2019s first investment in Vilnius, which perfectly fits our diversification strategy in terms of asset class and location. We acquired high-quality buildings, which are leased out on a long-term basis to a reliable group of companies. In addition, we see a strong potential of the surrounding area to become one of key high-tech and innovation districts in Vilnius and we certainly have plans for further expansion here,\u201d says EfTEN\u2019s Lithuania Country Manager Laurynas \u017dilys.<\/p>\n
According to Newsec Baltics Head of Transactions, Andrius \u0160volka: \u201cThis deal and other planned developments in the vicinity demonstrates strong potential of the location to become a hub of manufacturing and technological innovations in Lithuania. Also, this sale and leaseback transaction once again proves that the demand for quality industrial and logistics properties with solid lease agreements is particularly strong among local and foreign funds.\u201d<\/p>\n
\u201cYou could say that within the commercial real estate market, which is already quite active, the industrial and logistics property segment is becoming investors\u2019 real favourite. We are currently seeing a rebirth of the industrial sector \u2013 one of the few that last year not only withstood the downturn but even grew. We are glad that both parties to this transaction \u2013 the buyer and the seller \u2013 are Luminor\u2019s clients, which allowed to arrange the financing terms quickly and effectively,\u201d notes Gediminas Kesminas, real estate financing expert at Luminor Bank.<\/p>\n
The transaction was completed on 31 March 2021. The acquisition was financed by Luminor bank. The legal advisor to the seller was the law firm Ellex, that to the buyer was FORT Legal.<\/p>\n","protected":false},"excerpt":{"rendered":"
EfTEN Real Estate Fund 4 has acquired a complex of 3 commercial properties in Vilnius, beside the highway to Mol\u0117tai, from Arginta Group, in a sale and leaseback transaction. The complex consists of three buildings with a total of over 16,000 sqm of industrial, logistics and office space. Properties were built in 2007, 2012 and […]<\/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-5579","post","type-post","status-publish","format-standard","hentry","category-eften-real-estate-fund-4-news"],"yoast_head":"\n