Represented Arginta Group in sale-leaseback transaction
Ellex in Lithuania Real estate practice successfully represented the Arginta Group in a sale and leaseback transaction. The client agreed with EfTEN Real Estate Fund 4 on the lease of a complex of three commercial buildings in Vilnius, Molėtai highway.
The client was represented by co-heads of the real estate practice Dr. Olga Petroševičienė and Audrius Petkevičius, senior associate Dominykas Užkurnys and partner Robertas Čiočys. The complex transferred by the client to the buyer consists of 3 buildings for industrial, logistics and administrative use with the total rented space exceeding 16,000 sqm. The objects were built in 2007, 2012 and 2018. The complex is situated in the emerging innovation and manufacturing district beside the Molėtai Highway, just 12 km away from the center of the capital.
The Arginta Group, which sold the buildings by way of a sale-leaseback transaction, entered into a long-term lease agreement allowing it to continue developing its activities in these premises. Other tenants of the premises include Armila, one of the largest international distributors of medical devices and pharmaceutical products, Brolis Semiconductors high-tech laboratory and Arginta Engineering, which designs, manufactures and exports customized metal equipment.
The completed deal and other planned developments of land plots in the vicinity demonstrate the strong potential of this location to become a hub of manufacturing and various technological innovations in Lithuania. In addition, this transaction once again proves that the demand for quality industrial and logistics buildings with solid lease agreements is particularly high among local and foreign funds.
The transaction was completed on 31 March this year. The acquisition was financed by Luminor bank.