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The building for 11.2 million. UAB Terseta, managed by the real estate and venture capital fund manager Lords LB Asset Management, acquired 1,000 million euros. Lietuvos Paštas plans to invest the funds received in modernizing operations, renovating post offices and improving working conditions.
Lietuvos Paštas and UAB Terseta signed an agreement for the acquisition of the former Vilnius Central Post Office building in September. The right to acquire these 5.4 thousand. square meters meter. The Lords-managed company LB Baltic Fund IV won the building in 2019. December. In the auction.
“The most important objective of our company is to provide Lithuanian residents with modern and quality services, as well as to ensure good working conditions for our employees. Effective real estate management must contribute to the implementation of this strategy. Therefore, we are gradually abandoning real estate objects that no longer meet current needs or are no longer used in the company’s core business, ”says Asta Sungailienė, General Manager of Lithuanian Post.
According to her, the funds received from the sale of these stores will be invested in the reconstruction of regional parcel centers, renewal of the transport fleet, further development of the network of parcel terminals and digitization of business processes. It is also planned to constantly invest in the modernization of the post offices in Lithuania to meet the needs of customers and employees.
“This acquisition is in line with the fund’s strategy. This is the second building managed by Lords LB Baltic Fund IV in the very center of Vilnius, where we see significant long-term growth potential,” says Rytis Zaloga, Fund Manager from Lords LB Baltic Fund IV.
Formerly Avda Gedimino. The Vilnius central post office has been operating on the premises since July this year. he moved to a new modern premises in neighboring Totorių st.
In total, Lords LB Asset Management currently manages 15 funds: 12 real estate funds, two private equity funds, and an energy and infrastructure fund. Total assets of the funds managed by Lords LB Asset Management in 2020 exceeded 605 million at the end of June. euros.
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