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International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 01:21

Investments in commercial property in Lithuania grow rapidly in Q2

BC, Vilnius, 17.07.2013.Print version
Lithuanian commercial property investment market is gaining momentum. One more high-value, major transaction was finalised in Q2, 2013. This has further improved the indicators in the sector and signals that investors are regaining trust in local markets, reported LETA/ELTA Ober-Haus Real Estate Advisors.

In May 2013, Lords LB Baltic Fund III, for an undisclosed price, acquired 100% of the shares of SMI Lietuva and its subsidiaries and 100% of the shares of SMI Latvia. SMI Lietuva and SMI Latvia control 8 shopping centres in Lithuania (in Klaipeda, Siauliai, Marijampole and Alytus) and Latvia (in Riga, Liepaja and Jelgava) and a warehouse in Riga.

 

The total area of the acquired shopping centres in Lithuania is nearly 44,000 sqm.

 

Over the first half of this year, 5 investment deals, with a total investment value of approximately EUR 124 million, were finalised in Lithuania (these include direct, indirect and forced acquisitions of modern office, retail or warehousing/production premises with a value of over EUR 1.5 million). This is a 193% (nearly threefold) increase compared to the whole of 2012. The total area of properties acquired is 126,500 sqm.





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