East Capital Real Estate - two decades of progress and partnership “building” Lithuania
East Capital Real Estate - two decades of progress and partnership “building” Lithuania
East Capital Real Estate (ECRE), part of East Capital Group, celebrates 20 years of investment, growth, and partnership in Lithuania. The anniversary event yesterday evening took place at Sapieha Palace / Sapiegų Rūmai and brought together long-term collaborators, clients, and partners to mark two decades of shared progress, a story that mirrors Lithuania’s own remarkable transformation from emerging market to modern European success.
Two decades of building Lithuania
When ECRE entered Lithuania in 2007, the country was experiencing the energy and optimism of a new era. EU membership was reshaping the economy, Vilnius was evolving into a modern capital, and there was a strong belief in progress, innovation and partnership.
ECRE was among the first international investors to see the potential. Its early acquisitions, starting from 2007, marked the beginning of a long-term commitment to helping shape Lithuania’s and Baltic institutional real estate investor market.
Over the past two decades, ECRE has become one of the most active and trusted institutional investors in Lithuania’s commercial property market. The company has been instrumental in developing and managing some of Vilnius’s most recognisable assets. ECRE contributed to Vilnius’ central business district (CBD) development through the management and further development of the 3 Bures office complex and helped restructure landmark heritage Gedimino 9 shopping centre when it experienced hardships following the financial crisis of 2009. In the process, ECRE secured double digit returns to its institutional investors.
Today, ECRE manages a Baltic commercial real estate portfolio of approximately 500 000 square metres with a market value of EUR 610 million. The total ECRE investment in the Baltic real estate markets over 20 years has been in excess of EUR 1 billion. The current Lithuanian portfolio represents 44 000 square metres of lettable space, and the portfolio value is approaching EUR 100 million.
The portfolio includes:
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Duetto Business Complex which is home to many international brands such as Coca Cola, RIMI, BASF, Astra Zeneca, Pernod Ricard and others.
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Laisves 75 which is the headquarters, distribution facility and flagship store of the leading Baltic e-commerce player Pigu.
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Zalgirio 112 office building is the headquarters of the Cognizant and Modus Group.
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Jankiskiu 52 logistics centre with such recognized brands as ELIS, Obo Bettermann, Woodline and Smiltainis ir ko.
These investments reflect ECRE strategy of asset diversification and focus on facilitating business and growth of blue-chip tenants.
Peter Elam Håkansson, Founder and Group Chief Investment Officer, says, “When we first came to Lithuania in 1993, we felt the same spirit that drives the country today; ambition, creativity and the courage to build something new. I remember those early visits, a business lunch at Lokys, and a winter dinner at Stikliai when there was no heat, no tourists, but even back then the food was excellent. That was the Lithuania we first encountered: resilient, hopeful and ready to grow.
Today, East Capital Group is firmly rooted across the Baltics, with offices in all three capitals and teams deeply engaged in the markets. Last year, we gathered our entire company in Tallinn, this September in Vilnius, reconnecting with the places where our story began. And next year…well we will share that chapter soon.”
More than buildings – a story of people and partnerships
From the very beginning, ECRE’s projects in Vilnius have been guided by the belief that modern real estate can drive both economic growth and social progress.
Today, all ECRE-managed properties in Lithuania are BREEAM-certified, meeting international sustainability standards. In 2024, ECRE earned an EcoVadis Gold certification, placing it among the top 5% of real estate companies globally for environmental and social performance.
These buildings are not only workplaces but symbols of a forward-looking city that continues to evolve. combining architectural quality with efficiency and sustainability.
“It’s incredible to look back at how far Lithuania has come and how our own journey in the institutional real estate investment market has paralleled a similar growth path. As one of the early institutional investment pioneers, we started small but have since contributed over a billion euros in quality Baltic real estate investments. What is even more important is we remain committed to these markets - through multiple crisis and recovery cycles - thus contributing to the market resilience and attractiveness for foreign investors. We proudly call these are our home markets and we look forward to continued growth in the years to come”, says Arūnas Gricius, Country Manager, ECRE Lithuania.
Looking ahead – continuing to build Lithuania’s future
The 20-year milestone marks not only a moment of reflection but also the start of a new chapter. ECRE continues to invest in Lithuania’s growing economy, focusing on sustainable, energy-efficient and community-oriented projects that strengthen the country’s long-term competitiveness.
This autumn, the company has begun pre-marketing its new East Capital Real Estate Fund V, which targets EUR 400 million in size and will build on two decades of local experience, focusing on new opportunities in Lithuania’s commercial and logistics real estate sectors.
Photo: Lukas Bartkus
