The real estate fund “Capitalica Z114 Real Estate Fund” of the investment management company “Capitalica Asset Management,” which belongs to the SBA Group, began publicly distributing a EUR 4 million bond issue on March 13th. The funds raised will be allocated to the development of the new A-class business center “Sand Offices” in Vilnius. The bond prospectus has been approved, and the issuance is supervised by the Bank of Lithuania.
Investors from Lithuania, Latvia, and Estonia can acquire up to 4000 bonds, with a nominal value of 1000 euros each, offering an annual interest rate of 6% plus 6-month EURIBOR. The minimum investment amount is 1022.86 euros, and the yield of this issue is 10%.
Debt securities can be acquired on the Nasdaq Baltic Exchange until March 22nd. However, despite the distribution taking place through the exchange, investors can only purchase bonds through financial brokerage firms or their branches.
Mindaugas Liaudanskas, the director of “Capitalica Asset Management,” states that this is the first public bond issue where the funds raised will be used for the construction and management of the company’s newest project, the “Sand Offices” business center in Vilnius.
“We decided to distribute the issue following highly successful bond distributions in the past, when we raised funds for the development of the largest office complex ‘Verde’ in Riga. We see that investors trust us and willingly choose to invest in sustainable real estate projects,” he says.
The construction of the 10,200 square meter “Sand Offices” business center on Žalgirio Street in Vilnius is planned to be completed by December 2024. 9.9 million euros have already been allocated for the project’s construction, and the estimated value of the business center is around 30 million euros.
The business center “Sand Offices,” developed by “Capitalica Asset Management,” adheres to BREEAM Excellent New Construction standards from the project’s blueprints onwards.
