Swedish PE acquires 20,500m2 office complex in Vilnius

Swedish private equity firm Nordic and Baltic Property Group (NBP) has acquired a 20,500 m2 office complex in the Lithuanian capital Vilnius.

NBP bought the Trio complex via a share deal from Austrian investor ECE European City Estates for an undisclosed amount. Newsec advised the vendor in the sale.

Located in the north of Vilnius, the three-block Trio complex was built in stages between 2008 and 2013. The asset provides B+ grade offices and is situated along the main Vilnius’ transportation artery Ukmerges str., connecting the city centre, the Vilnius-Riga road and the future Western bypass. The property is almost fully leased, and the main tenants are Swedbank, Vaasan&Vaasan, Pieno zvaigzdes, Santa Monica networks and CSC.

'The 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.