The real estate fund Baltic Horizon Fund is to acquire from the Finnish construction group YIT the Duetto II office building in Vilnius, Lithuania, for 18.3 mln euros.
The transaction is expected to close by the beginning of March 2019, once construction is complete and tenants have started to moved in.
The sales and purchase agreement was signed on Tuesday, and the purchase price of approximately 18.3 mln euros corresponds to an entry yield of approximately 7.1%, Baltic Horizon told the stock exchange.
The largest tenants in the property are Vilnius heating network company, Sweco and Rimi Lietuva.
“After the acquisition is completed, Baltic Horizon Fund will own and manage an attractive office complex with some of the top tenants in Vilnius,” fund manager Tarmo Karotam said.
Baltic Horizon Fund is a registered contractual public closed-end real estate fund managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS.
