Baltic Horizon Fund (the Fund) announced on 19th of January 2017 a plan to sign a sales purchase agreement to acquire Duetto I office property in Vilnius, Lithuania. Yesterday, on 22nd of March 2017, the sales purchase agreement was signed with YIT Kausta būstas. The purchase price under the agreement was EUR 14,6 million (excluding VAT). YIT Kausta būstas has also issued a two year guarantee for starting net operating income.
The property is located in the second high-rise office area of Vilnius, next to the newly completed western ring road. The building has 10 floors and underground parking space. Net leasable area of the Duetto I office building is 8,327 m2. The property is of A class energy efficiency. The property is anchored by Lindorff and Pernod Ricard. The Fund also obtained a call option to acquire neighboring Duetto II when the building is constructed in the future.
The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS.
Distribution: Nasdaq, GlobeNewswire, www.baltichorizon.com
This announcement contains information that the Management Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 22.55 EET on 22nd of March 2017.