Capitalica Asset Management, the investment management company of SBA Group, has established a new closed-end commercial real estate fund – Capitalica Z114 Real Estate Fund, intended for informed investors. The Bank of Lithuania granted approval for its activities in July.
Activities of the fund are oriented towards the development of commercial real estate in the center of Vilnius. Currently, the fund manages a 34-are plot of land together with approximately 3.5 thousand sq. m. of office and warehouse building at the Žalgirio and Linkmenų streets crossing. Instead of the present 2-story building, a new A-class 7-story business center covering 10.6 thousand sq. m. with a multi-level parking area will be raised.
“The city’s central business district expands beyond Konstitucijos avenue. We feel a constantly growing demand for new offices in the Šnipiškės municipality. The future office building will fit harmoniously into a space of street crossing next to our other business center “135” located at Žalgirio Street. Tenants of this building which complies with the BREEAM sustainability and ecology standards will enjoy not only an excellent location in the city center but also a neighborhood of the nearby park with a Japanese garden”, says Andrius Barštys, CEO of Capitalica Asset Management.
The fund’s estimated 20% average annual return will enable to double the invested capital through the entire investment period. The fund is established based on a “Club Deal” investment model – where a deal ticket for a limited number of investors is 1 million euros. The anchor investor and strategic partner is LTU INVEST – a company that has gained a long-term and successful experience in real estate development and management, as well as in other areas of investment.
