Baltic Horizon Fund buys North Star office building in Vilnius for €20.5m

Baltic Horizon Fund buys North Star office building in Vilnius for €20.5m

Published at: 2019-09-01 15:31 | Author: CIJEurope.com
Prosperus Asset Management RE fund is selling an office building it owns in Vilnius to Baltic Horizon Fund for €20.57m in a deal brokered by Newsec. It's being described as the largest class B office deal in the Baltics this year and Baltic Horizon fund's second in Vilnius. The asset being sold is North Star, a 10,800 sqm office building built in 2009 located in a growing neighborhood of the city between the city's CBD and its largest class B office park Technopolis. "The 10-year lease cycle since North Star's opening has come to an end and therefore in the last 1-2 years we were busy prolonging lease agreements with the main tenants, the vast majority of whom decided to remain in the property," says Gediminas Baltakis, CEO of Prosperus Asset Management. "We are glad that our efforts have been appreciated by the market and the buyer as our Prosperus fund is entering its asset realisation stage." It boght the building in 2014.

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