Investment management company Capitalica Asset Management has signed an agreement to acquire the business center “135” located on Žalgirio Street in Vilnius. The transaction is intended to be completed this year.
“Our strategy is to invest in high-quality office buildings and shopping centers with international tenants located in the central locations of major cities in the Baltic States. Business Center “135” corresponds to our strategy: it is an operating, high-quality facility, fully occupied by tenants with long-term contracts,” comments Andrius Barštys, CEO of Capitalica Asset Management.
According to UAB Eika CEO Domas Dargis, this transaction reflects the goals and directions of Eika’s real estate project development – to develop the facility, create value for it and sell it, and allocate the proceeds to other investment projects. “Business center “135” is currently 100 percent full. Clients are market leaders in their fields and world-renowned brands – Devbridge Group, ČIOP ČIOP, Bo Concept, ACME Grupė, Studija Moderna and others. An individual interior has been created for the established companies, meeting only their needs, as well as the uniqueness of the business center is emphasized by the bright colors of the lobby and the impressive size of the graffiti on the wall, engineering solutions, public spaces of the center and community-building initiatives,” says UAB Eika CEO Domas Dargis, naming the circumstances that determined the success of the transaction. In addition, UAB Eika will provide the management service for this business center to Capitalica Asset Management.
The nearly 7.3 thousand square meter business center “135” is the third object of the fund managed by “Capitalica Asset Management”: in March of this year, the Klaipėda shopping center “Luizė” was acquired, and in June – the business center “Kauno dokas” is being developed in Kaunas. In the nearest plans of “Capitalica Asset Management” – a project in Riga.
Investment management company Capitalica Asset Management was established in May 2016. The company specializes in the management of commercial real estate in the Baltic States. 80 percent of the shares of UAB Capitalica Asset Management are owned by the SBA concern, 20 percent belong to Andrius Barščys’ company UAB Fox Holdings.