{"id":996,"date":"2018-05-31T16:21:23","date_gmt":"2018-05-31T13:21:23","guid":{"rendered":"http:\/\/eref.ee\/?p=996"},"modified":"2018-05-31T16:21:23","modified_gmt":"2018-05-31T13:21:23","slug":"eften-real-estate-fund-iii-as-acquired-evolution-business-centre-in-vilnius","status":"publish","type":"post","link":"https:\/\/eref.ee\/en\/eften-real-estate-fund-iii-as-acquired-evolution-business-centre-in-vilnius\/","title":{"rendered":"EfTEN Real Estate Fund III AS acquired \u201cEvolution\u201d business centre in Vilnius"},"content":{"rendered":"<p><strong>Through its subsidiary EfTEN Real Estate Fund III AS has acquired \u201cEvolution\u201d business centre complex in Vilnius, Lithuania. The business centre first opened in 2009 and provides over six thousand square meters of gross leasable area.<\/strong><\/p>\n<p><strong>According to EfTEN Real Estate Fund III AS board member Viljar Arakas<\/strong>, \u201cEvolution\u201d is a modern 10-floor business centre in the northern part of Vilnius which will make an excellent addition to the opportunistic investment strategy of EfTEN Real Estate Fund III AS. The biggest lease holder at \u201cEvolution\u201d today, Telia, will be moving to new premises in the beginning of next year so all its currently held office space will be made available for new tenants. \u201cWe see a high demand for office space in Vilnius and \u201cEvolution\u201d is our opportunity to provide modern office spaces at a reasonable rental price. The initial yield at 100% occupancy rate is 8% per annum, which is an attractive return of investment from our fund\u2019s point of view,\u201d said Arakas.<\/p>\n<p>\u201cEvolution\u201d business centre has a bright outlook for the future as Vilnius municipality is currently planning several infrastructure projects that will add value and further enhance the potential of \u201cEvolution\u2019s\u201d location. \u201cThis deal marks success for EfTEN Real Estate Fund III AS as we acquired the business property in a location with good potential and with the purchase price of 680 euros per gross buildable\u00a0m<sup>2<\/sup>,\u201d said Arakas. The transaction price of \u201cEvolution\u201d was 9,02 million euros including VAT. Colliers International has valued the acquired property on a fair value of 10 million euros.<\/p>\n<p>Currently the 6 172 square meters of total rental space area in \u201cEvolution\u201d is occupied to the extent of 86% by 15 companies including several multinationals such as Eurovaistine pharmacy, Grifs AG, Compensa Life, Akzo Nobel Baltics, Telia, Linus Medical and Dussmann Service. The total enclosed area of the complex extends to 13\u00a0326\u00a0m<sup>2\u00a0<\/sup>and consists of an office building with high-ceiling commercial premises on ground floor and multi-level parking with enough parking space for 229 cars.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Through its subsidiary EfTEN Real Estate Fund III AS has acquired \u201cEvolution\u201d business centre complex in Vilnius, Lithuania. The business centre first opened in 2009 and provides over six thousand square meters of gross leasable area. According to EfTEN Real Estate Fund III AS board member Viljar Arakas, \u201cEvolution\u201d is a modern 10-floor business centre [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-996","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EfTEN Real Estate Fund III AS acquired \u201cEvolution\u201d business centre in Vilnius - Eref<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eref.ee\/en\/eften-real-estate-fund-iii-as-acquired-evolution-business-centre-in-vilnius\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EfTEN Real Estate Fund III AS acquired \u201cEvolution\u201d business centre in Vilnius - Eref\" \/>\n<meta property=\"og:description\" content=\"Through its subsidiary EfTEN Real Estate Fund III AS has acquired \u201cEvolution\u201d business centre complex in Vilnius, Lithuania. The business centre first opened in 2009 and provides over six thousand square meters of gross leasable area. 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