Eften Real Estate Fund 4 has acquired a complex of three commercial properties in Vilnius in a sale and leaseback with the Arginta Group. Financial details were not disclosed.
The scheme consists of three buildings with a total of over 16,000 m2 of industrial, logistics and office space. The assets were built in 2007, 2012 and 2018 and include solar panels, wind turbines and charging stations for electric cars.
Arginta Group will continue to occupy the building along with other tenants including 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.
‘We’re 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,’ said Arginta Group CEO Gintautas Kvietkauskas.
The proceeds from the sale will be partly reinvested in the development of a Manufacturing Innovation Center next to the properties sold in this transaction.
‘The Arginta complex is our fund’s 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,’ said Eften’s Lithuania country manager Laurynas Žilys.
The acquisition was financed by Luminor bank.
Eften Real Estate Fund 4 is a ten-year closed-end fund for institutional investors that invests in cash flow generating commercial real estate properties in the Baltics. The fund’s assets are managed by Eften Capital, an Estonian asset management company.
