The business complex, consisting of two 10-storey buildings, was completed in 2017 and 2019 respectively by a leading Baltic developer; YIT Lithuania. Conveniently located next to Vilnius Western Bypass, which connects Vilnius suburbs to the city center, the complex provides easy access to both Kaunas and Riga highway exits.
Both Duetto A and Duetto B are fully leased and provide convenient, cost-effective, and environmentally sustainable office space that meet the demands of modern working. Among the tenants choosing the complex for their Lithuanian headquarters are well-known global and local brands such as RIMI Lithuania (part of ICA Gruppen), BASF, Intrum, Schneider Electric, as well as municipal heating and water companies.
Both buildings are BREEAM New Construction certified and will be financed with a green loan from Swedbank.
“We are very pleased to add the Duetto business complex to our growing Fund IV portfolio The new acquisition continues to follow our investment strategy - convenient and easily accessible locations in the capital city together with modern and environmentally friendly office spaces that have a strong tenant mix,” says Albin Rosengren, Partner and Head of Real Estate, East Capital Group. “We appreciate Vilnius city’s efforts to make this one of the most attractive business locations in the city with continuous investments in transportation and pedestrian/bicycle infrastructure. We look forward to adding to the success of this location through continued co-operation with the city, our tenant community, and neighbouring businesses.”
The acquisition is financed by Swedbank. "Emissions from construction and real estate operations are among the highest across all sectors. Buildings need to meet targets for reducing greenhouse gas emissions. The Duetto business center complex shares this focus, comprised of two A-energy efficiency class business centers, both certified with BREEAM’s "Very good" standard. We are therefore particularly pleased to be able to include both properties in Swedbank's green bond programme" says Ignas Mačeika, Head of Corporate Customer Division at Swedbank.
East Capital Real Estate was advised on this transaction by FORT Legal, KPMG and Projector.