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“Capitalica Asset Management” launches new bond issue

Press Release, May 17, 2024

On May 17, the real estate fund “Capitalica Z114 Real Estate Fund” of SBA Group’s investment management company “Capitalica Asset Management” begins a public offering of bonds worth 3 million euros, with the possibility to expand up to 6 million euros if needed. The funds raised will be allocated to the development of a new Class A business center “Sand Offices” in Vilnius. The base prospectus for the bonds has been approved by the Bank of Lithuania.

The company’s CEO, Mindaugas Liaudanskas, states that the issuance of the new bonds is an important step in developing the promising “Sand Offices” project, which will open its doors to tenants by the end of this year. 12.9 million euros have already been allocated for the construction of the project, and the estimated value of the business center is about 30 million euros.

“After completing the development of the ‘Verde’ office complex in Riga at the beginning of May, we are now focusing on the ‘Sand Offices’ business center rising at the intersection of Žalgirio and Linkmenų streets in the capital. We will offer future tenants sustainable, logistically convenient, and, of course, aesthetically pleasing office spaces. We believe in the success of this project because, as our experience shows, quality remains in demand in the market. I am confident that we will not only pass the ‘Žalgirio Street test’ but also achieve excellent results,” says M. Liaudanskas.

The building’s framework is already nearing completion. Interior work is planned to begin in the summer. The business center is being developed in accordance with BREEAM Excellent in Built certification standards.

“Typically, business centers are built on Lvovo Street or Konstitucijos Avenue. With the ‘Sand Offices’ project, we aim to expand the boundaries of Vilnius’ central business district,” says M. Liaudanskas.

The bond issuance yield is 10.5%

Investors from Lithuania, Latvia, and Estonia are invited to purchase up to 6,000 bonds with a nominal value of 1,000 euros each and an annual interest rate of 6% + 6-month EURIBOR. The minimum investment amount is 1,033.39 euros, with an issuance yield of 10.5%.

This is the second public bond issue by “Capitalica Asset Management” for the development of the “Sand Offices” project. The first public bond issue of 3.4 million euros was successfully distributed in March of this year.

The distribution of debt securities will continue until June 4. Private and institutional investors are invited to invest through the “Nasdaq Baltic” exchange.

On May 21 at 3 PM and 4 PM, “Capitalica Asset Management” will organize a virtual conference in Lithuanian and English, during which the possibilities and conditions of investing in the “Sand Offices” business center bonds will be discussed. The speakers at the conference will be Andrius Barštys, head of the CAPITALICA Z114 REAL ESTATE FUND and chairman of the board of “Capitalica Asset Management,” and Eglė Džiugytė, head of the financial markets department at “Šiaulių Bankas.” More information can be found on the company’s social networks.

About Capitalica Asset Management

“Capitalica Asset Management” ( an investment management company managing investment funds that invest incommercial real estate and non-equity securities in the Baltic States andEurope. The company manages 12 properties totaling 108,000 m² of real estate,with an additional 20,000 m² under development. Leveraging its expertise incapital markets, real estate, and investment funds, the company providesprivate and institutional investors with the opportunity to achieve stablereturns. CAM funds are licensed and supervised by the Bank of Lithuania, andthe bonds are listed on the “Nasdaq” securities exchange.”Capitalica Asset Management” is 70% owned by one of Lithuania’slargest business groups, SBA Group, with the remaining 30% held by “FoxHoldings,” a company owned by the chairman of “Capitalica AssetManagement,” Andrius Barštys.

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