Eastnine acquires in Riga and Vilnius

Eastnine acquires a property portfolio including two office properties in Riga and Vilnius, respectively. The purchase price amounts to EUR 35.5 million.

The total contracted annual rent for the two properties amounts to EUR 2.2 million. The properties are fully let and are expected to be taken over before the end of the first half of the year. Vastint is seller and developer of both properties.

One property, Uniq in Vilnius, comprises approximately 6,900 sq.m. of offices and 110 parking spaces. The building, which was built in 2016, is leased in its entirety by Danske Bank IT service centre. The other property, Zala 1 in Riga, houses just over 3,600 sq.m. of office space and includes as many as 190 parking spaces, of which 170 in an underground garage. Zala 1 was built in 2009 and among the tenants are Microsoft and CBRE. Both properties are certified with LEED Platinum.

"We continue to add new office properties that fit into our existing portfolio”, says Eastnine's CEO Kestutis Sasnauskas. "With these properties, the value of the property portfolio will amount to close to EUR 410 million."

Eastnine’s acquisition is, so far, the largest office transaction during 2021 in the Baltics.

Eastnine AB (publ)

For more information contact:

Kestutis Sasnauskas, CEO, 08-505 97 700
Britt-Marie Nyman, CFO and Deputy CEO, 070-224 29 35

Visit www.eastnine.com

Eastnine AB is a Swedish real estate company with a property value of EUR 372m and a long-term net asset value of EUR 324m as of 31 December 2020. Eastnine’s vision is to create and provide prime venues where ideas can flow, people can meet, and successful business can be developed. The mission is that Eastnine shall be the leading long-term provider of modern and sustainable office premises in prime locations in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm Mid Cap, sector Real Estate.