Eastnine takes possession of S7-3 property in Vilnius

Eastnine AB (publ) is today taking possession of the newly built office property S7-3 in Vilnius. The acquisition price amounts to approximately EUR 43m. With the acquisition Eastnine becomes the largest owner of office properties in Vilnius. Seller is Galio Group.

The property occupies about 14,500 sq.m. and is fully let to Danske Bank on an agreement that runs until December 2024. The acquisition means that Eastnine took over all three properties that Eastnine signed an agreement to acquire, from the developer Galio Group, in February 2019. The properties are, like Eastnine's other Vilnius properties, located in the central business area in Vilnius. All S7 properties have received the environmental certification BREEAM Excellent. The acquisition is financed with own cash and bank loans.

“With the acquisition, Eastnine owns six properties totalling 94,000 sq.m. of modern and sustainable offices in the best business location in Vilnius. It makes us the largest property owner of offices in the city and we’re continuing our growth journey”, says Kestutis Sasnauskas, CEO of Eastnine.

For more information contact:

Kestutis Sasnauskas, CEO, +46 8 505 97 700
Britt-Marie Nyman, CFO and Deputy CEO, +46 70 224 29 35

Visit www.eastnine.com

Eastnine AB is a Swedish real estate company with a property value of EUR 288m and a long-term net asset value of EUR 255m as of March 31, 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.