WALLESS Weekly Review
Please note that the review is in Lithuanian.
WALLESS Senior Associate Akvilė Mackay and Associate Mantas Lideika assisted the Baltic Horizon Fund in signing an agreement to acquire business center North Star owned by UAB Prosperus Strategic RE Fund.
It is the largest Class B office deal in the Baltic states and the second acquisition of a Class B office building in Vilnius by the Baltic Horizon Fund this year.
The purchase price is approximately EUR 20.7 million, which corresponds to an estimated entry yield of roughly 7.3%.
North Star is a modern office building located on Ulonu str. 2, near the central business district of Vilnius. The office complex has 10,600 sq.m. leasable area and an underground parking facility with 370 places.