On September 15, 2021, a permit was received from the Vilnius City Municipality for the construction of a DHL express terminal in the territory of Vilnius Airport. The construction of the terminal build-to-suit The project is managed by the UAB Eika Real Estate Fund (EREF) of the investment company UAB Eika Asset Management (EAM), which attracted 18 million euros in investor funds during the 2nd distribution stage. The completed building will remain in the ownership of this fund, and it is planned that the project investments will reach 6.3 million euros. The completion of the project construction is planned in a year, in the 3rd quarter of 2022.
EREF-managed company UAB “Terminalo projektas” won a land lease auction in 2020 and leased a 1.88 ha plot of land in the territory of Vilnius Airport from the State Enterprise “Lietuvos oro uostai”. The won land lease auction created the conditions for completing the express terminal development and lease deal with UAB “DHL Lietuva”. The terminal designer and general contractor is UAB “Eikos statyba”.
The project will be financed from the EUR 18 million raised during the second round of EREF’s offering this summer. The second round of offering was attended by a large number of investors who came during the first round of offering in 2019, as well as more than 20 new investors. Of the EUR 18 million raised, EUR 4 million is the capital of the EIKA group, which is investing together with external investors. The raised funds will be used not only for the construction of the DHL terminal, but also for the Tamros development project in the Kaunas FEZ territory and for new acquisitions.
“For the past couple of years, we have been actively working on forming the EREF portfolio – both by acquiring existing facilities and developing new projects. We feel the trust in the EAM team from existing and future investors, from whom the attracted capital allows us to continue creating value by forming a commercial real estate portfolio that generates a stable income stream. The start of construction of the DHL project is a good impetus for the beginning of a new stage of EREF’s activities,” says EAM CEO Viktorija Orkinė.
The express parcel terminal, the construction of which is scheduled to begin this fall, meets the highest requirements of the international parcel company DHL and is designed based on the best practices acquired by this company. The building will border the territory of Vilnius Airport, which will allow for prompt service of parcels transported by air. To ensure the functional operation of the terminal, 12,000 sq. m of areas are being installed. The 4,800 sq. m building will consist of administrative and parcel terminal distribution parts, and loading locks have been designed. The aim is to make the building as environmentally friendly as possible, and innovative solutions have been applied to this end, including the supply of heat and cooling by installing a geothermal power plant.
“I am pleased that the DHL terminal project will move from the planning phase to the construction phase and the company’s investments in Vilnius Airport will ensure the successful development of DHL’s express business in Lithuania. The automated parcel sorting system, implemented process efficiency solutions, and attention to environmental aspects will not only allow us to provide the highest quality of services to DHL customers in Lithuania, but will also significantly contribute to DPDHL’s business sustainability commitments by reducing CO2 emissions in parcel transportation,” says Mindaugas Pivoriūnas, CEO of DHL Lietuva.
“We are pleased to offer the investor and DHL a convenient plot of land for the development of their activities right next to the country’s main airport. We have no doubt that by expanding the infrastructure for cargo handling with this project, the competitiveness of not only Vilnius Airport, but also the entire country in the region will increase,” says Marius Gelžinis, Director General of Lithuanian Airports.
In addition to the DHL terminal, EREF’s investment portfolio includes the development project of the Tamro logistics center of the BENU pharmacy operator, Audi and Volkswagen car dealerships leased by the Moller Auto group, and the Highway business center. EREF is the second real estate fund managed by EAM and invests in commercial operating and developing flow-through objects. EREF invests in classic commercial assets – office buildings, shopping centers and logistics in the Baltic States. The fund is intended for informed investors, and together with external investors, the capital of the EIKA group is also invested.
About EAM
UAB “Eika Asset Management” is a fund management company that has been providing services to informed investors since 2016. EAM’s activities are licensed and supervised by the Bank of Lithuania. The management company has the right to manage collective investment undertakings intended for informed investors. The EAM team consists of investment management professionals with more than 15 years of experience in commercial and residential real estate development, who are familiar with the real estate market, are able to analyze it and disclose investment opportunities and risks.
About DHL Lithuania
DHL is the leading global brand in the logistics industry. Our DHL businesses offer an unrivaled range of logistics services, from national and international parcel delivery, e-commerce shipping and warehousing, international express, road, air and ocean transport to industrial supply chain management solutions. With around 400,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling sustainable global trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing and energy, automotive and retail, DHL has established itself as the “World’s Logistics Company.”
DHL is part of the Deutsche Post DHL Group. The group generated more than 66 billion euros in revenue in 2020. Deutsche Post DHL Group aims to achieve zero-emission logistics by 2050.