East Capital Real Estate’s Baltic Property Fund has sold the Jin business centre in Vilnius, Lithuania
East Capital Real Estate has sold the Jin, a class B business centre in Vilnius, with a total leasable area of 3,700 square metres. New owner of the building is EfTEN Capital.
The Jin, and its sister office building, Jan, opened their doors on Mėnulio Street 7 in Vilnius in 2008. The business centre is in a rapidly developing part of the Lithuanian capital, at the intersection of the Karoliniškės and Pilaitė districts and near the city’s Western bypass, where office clusters are forming and drawing increasing interest from tenants. Its 3,700 square metres of space is fully occupied and easily accessible both by car and public transport. The property features spacious underground and above-ground parking. There are four bus/trolley stops within a few hundred metres of the office building and nearby the largest outlet mall in Northern Europe opened in late 2021.
The transaction marks the last sale of Baltic Property Funds’ real estate in Lithuania. Following the sale, the fund has eight properties in the portfolio, seven of which are located in Estonia. East Capital Real Estate has recently made several acquisitions in Lithuania, most recently a newly completed office building from YIT, for the company’s fourth and latest fund.
“We are pleased to note that the attractiveness of this business center and its location have only grown over time and that it is now firmly established as one of the most attractive business hubs in Vilnius. This resulted in a very good sale for our investors, and the transaction also confirms the interest in Vilnius and its real estate market amongst institutional investors.” said Albin Rosengren, Partner and Head of East Capital Real Estate.
Advisors for East Capital Real Estate were Walless legal firm and Newsec advisors.
Albin Rosengren, Partner, East Capital Group
+46 8 505 88 550
Jessica Scott, Chief Marketing and Communications Officer, East Capital Group
+46 708 72 84 55