The closed-end type real estate investment company UAB LIM Verslo Trikampio NT Fondas, controlled by UAB Lewben Investment Management of the international Lewben Group of companies, plans to acquire the Verslo Trikampis Business Centre on Jasinskio Street in Vilnius managed by MG Valda.
The fund will use the attracted investor funding for the transaction. Following the transaction, MG Valda will remain the administrator of the business centre.
‘Verslo Trikampis is an excellent example of a consistent and well planned A class office centre. The strategic position, solid tenants and long-term contracts ensure stable income to its owner and allows for accurate planning of return on investment to the shareholders of the fund. The fact that MG Valda will remain the administrator of the premises is good news for tenants and investors alike, who expect continuity and professional approach,’ Audrius Žiugžda, Chairman of Lewben Investment Management, said.
‘This transaction offers to us an opportunity to increase the scope of newly developed projects and to continue to invest in the real estate development operations which have recently increased significantly. In addition, MG Valda plans to invest by acquiring the shares of the investment company, because Verslo Trikampis is and will remain an attractive, safe and profitable investment object. In particular, since we have a successful track record in selling the similar North Star Business Complex. We remain the administrator of Verslo Trikampis to ensure successful business continuity of the tenants and to carry forward our accumulated lease management experience,’ Survilaitė-Mekionienė noted.
The completion of the transaction it expected by the end of March this year.
The Bank of Lithuania issued a licence to UAB LIM Verslo Trikampio NT Fondas on 14 February 2017. This is a closed-end type real estate fund for informed investors, which focuses on already functioning real estate projects with a stable return. The Fund operates as a private limited company, the investors of the fund are also the shareholders of the company. It is planned that the fund will pay dividends to its shareholders every quarter. The planned duration of the fund activities is 7–9 years (with the possibility to extend for another 2 years).
Four A class office buildings of Verslo Trikampis are located in the central part of Vilnius, on the bank of the River Neris, next to the most important state institutions, agencies, shops and restaurants. The gross leasable area of the complex is 28,000 sqm. A total of 58 Lithuanian and foreign companies are the tenants of Verslo Trikampis.