Lithuania

Bonava is commencing production of a new project consisting of 101 housing units in Vilnius. In parallel, production has started on the second and final phase of the Pikaliiva Kaarmaja neighbourhood in Tallinn, consisting of 81 housing units, and the Blūmendāles Majas project in Riga, consisting of 58 housing units.

YIT and SBA Urban, a Lithuanian real estate development and investment company, have signed a general contract for the construction of the office, sales and warehouse project Urban HUB in Lithuanian capital Vilnius. The value of the contract is approximately €23 million, and it will be recorded in the order book for the third...

This autumn Eften will establish a new fund aimed at institutional investors, with the objective to fill the financing gap that is emerging in the Baltic commercial real estate market. The fund will finance real estate projects that require additional capital. Financing will be provided both with debt and equity.

East Capital Real Estate Fund IV signed an agreement for the acquisition of two modern 10-storey office buildings, Duetto A and Duetto B, with a total lettable area of 17 260 square metres located in Vilnius, Lithuania. The transaction will be closed in early June 2023.

The difficult market situation is reflected in Bonava's business figures. Instead of the planned 940 residential units in 2022, the developer has only sold 700 units.

Industrial real estate developer and manager Sirin Development plans a second stage of development in the Kaunas Free Economic Zone (FEZ): a complex of three warehouses involving investments of over €33 million will be built at Gamybos Street 6 in the village of Ramučiai.

The owner of Europa Shopping Centre in Vilnius, BH Europa UAB, an SPV of Baltic Horizon real estate fund, signed and closed a real estate sale and purchase agreement with UAB „Prime Location Property Fund“ on Friday, 30 December 2022, following the end of the Nasdaq trading day, to sell its share in the parking house of Europ...

Sirin Development is beginning the first stage of development of planned facilities at the Kaunas Free Economic Zone (FEZ). In 2023, the company plans to build 16,000 square metres of warehouse space at Jėgainės Street 1 in the village of Biruliškės.

EfTEN Real Estate Fund III AS and EfTEN Kinnisvarafond AS signed a merger agreement. The merger will create the largest real estate fund in the Baltics, with a total balance sheet of almost 400 million euros. After the completion of the merger, the merging fund will be named EfTEN Real Estate Fund AS, and its shares remain li...

Sirin Development UAB has completed the first stage of construction of the J55 Logistics Centre in Vilnius – a warehouse with 20,400 m² of space in which a total of 11.3 million euros was invested.

In the second quarter, Eastnine leased approximately 8,300 sq.m. in Vilnius to several new tenants. Most of the leases have taken place in the office property Uniq, which is now fully let. The former single tenant Danske Bank moved out at the end of May 2022.

Sirin Development UAB will build 63 000 square metres of warehouse facilities on 12 hectares in the Kaunas Free Economic Zone. The planned investment in the project is €41 million.

KS Holding, a Kesko Group company, has completed the sale of Kesko-Senukai stores in Vilnius and Daugavpils to the Finnish Special Mutual Fund Titanium Baltic Real Estate. Together with the sale of Riga’s Ozols Centrs, acquired by Titanium in November , KS Holding has brought retail assets valued at €60 million to the market....

EfTEN United Property Fund acquired the Jin&Jan class B business centre in Vilnius from the fund managed by institutional asset management group East Capital Real Estate. The deal size is confidential.

The Vilnius office market is starting 2022 under pressure. The already limited supply of class A office space is set to increase only slowly, and that, together with inflation and the rising costs of building materials and labour, should push rents higher. Nevertheless, companies are continuing to actively plan expansion and ...

After almost two years of the pandemic, the office asset class in Europe is proving to be largely resistant to the crisis, albeit with limitations. Although the transaction volume of around €87.5bn in 2021 was up on the previous year (+4.1%), it still lagged behind the pre-pandemic period (-28.2% compared to 2020, -15.3% comp...

Newsec has acquired BPT Real Estate from private equity fund manager Baltcap. BPT Real Estate owns property management companies operating under that same name in Lithuania, Latvia and Estonia, as well as a controlling stake in Projector, a provider of construction management and supervision services in the Baltic countries.

Eastnine acquires a modern office property, Uptown Park, for €40 million. The property, which is located in a developing area near the central station of Vilnius, is taken over immediately.