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This is the Dereif Sicav Fis fund’s first investment in the Baltic States, but more investments are planned in the region. The parties agreed that the financial information of this transaction will be confidential, the companies said in a statement.
Lords LB Special Fund II began developing the Class A office complex in 2016, and this summer it successfully moved into it and the building’s sole tenant, SEB bankas, opened its doors to clients since August. The facility is expected to receive the BREEAM Outstanding certification in the coming months.
It will then be the first and so far the only building in the Baltic States to receive this highest international certificate for sustainable buildings.
The total area of the office complex between the National Gallery of Art and the Forum Palace is approximately 12.9 thousand square meters. square meters, 268 parking spaces and one of the first car parks in Lithuania.
“The real estate market in the Baltic countries remains active. Sustainable buildings, which have the least impact on climate change, are particularly attractive to both large international investors and Class A tenants. The SEB headquarters project we developed not only met the extremely high criteria of this tenant, but also, according to the fund’s strategy, it was successfully sold to a large international investor, ”said Marius Žemaitis, Lords LB Special Fund II fund manager.
“Due to its size, the Baltic market is a niche market. However, it has a solid economic base, future prospects and returns that are currently difficult to achieve in other European capitals,” said Hans Stuckart, CEO of REInvest Asset Management .
Lords LB Special Fund II, a real estate investment fund that has been operating since 2016, is intended for informed investors. The fund is managed by the investment management company Lords LB Asset Management, licensed by the Bank of Lithuania, serving institutional and private investors since 2008.
In total, Lords LB Asset Management currently manages 15 funds: 12 real estate funds, two private equity funds, and an energy and infrastructure fund. As of the end of June 2020, the total asset value of the funds managed by Lords LB Asset Management exceeded LTL 605 million. euros.
The investment management company REInvest Asset Management was established in 2017 in Luxembourg. It is an independent company, managed by its owners, that provides strategic real estate consulting and fund management services, as well as advice on structuring regulated and unregulated investment vehicles.
REInvest Asset Management currently manages a variety of real estate properties in Europe worth more than 1.5 billion euros. euros.
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