Investment management company Capitalica Asset Management signed an agreement to purchase the 135 business centre located at Žalgirio Street in Vilnius. It is planned to complete the deal by the end of this year.
“Our strategy is to invest in high quality commercial buildings with international tenants located in the centre of large cities of the Baltic countries. The 135 business centre is in line with our strategy: it is a functioning quality building that is fully occupied by tenants with long-term agreements”, – Andrius Barštys, the CEO of Capitalica Asset Management comments.
According to Domas Dargis, the CEO of Eika, a real estate development and construction company, this deal is a natural closure of the company’s project – to develop an object, to create added value, to sell it and to use revenues for new investment projects. “The 135 business centre is currently 100 percent full. Its clients are market leaders in their fields and brands recognized worldwide – Devbridge Group, Čiop Čiop, Bo Concept, Acme Group, Studija Moderna etc. Interior design that meets individual needs of the companies was created; the uniqueness of the business centre is highlighted by wall graffiti of an impressive size and vivid colours, engineering solutions, public spaces of the centre and initiatives to bring the community together,” – Mr. Dargis names the pre-conditions of the successful deal. Eika will continue to provide the 135 business centre management services.
The 135 business centre of about 7.3 thousand square meters is the third object in the fund managed by Capitalica along with Luizė mall in Klaipėda and Kauno dokas business centre in Kaunas, purchased in March and June 2017, respectively. Another project in Riga is in the nearest plans of Capitalica.
Investment management company Capitalica Asset Management, founded in May 2016, focuses on management of commercial real estate assets in the Baltic countries. Capitalica is owned by SBA group and Mr. Barštys’ Fox Holdings.