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ARTICLES TAGGED WITH "Eastnine"

"The possibilities far exceed the capital we have"

Sweden — Eastnine has landed its first acquisition in Warsaw, a market the company has long had in mind. In connection with the purchase, the company's CEO, Kestutis Sasnauskas, spoke to Nordic Property News about the future prospects for Eastnine, for the office segment and for the industry as a whole. In addition, the CEO shared his thoughts on the geopolitical situation.

Eastnine acquires Warsaw Unit in the largest office transaction in Europe this year

Sweden — Eastnine has acquired 46-storey office tower Warsaw Unit for EUR 280 million from Ghelamco. The acquisition establishes Eastnine in Warsaw and is marking the largest step to date on Eastnine's journey building a leading office property company in the fastest growing part of Europe. The acquisition, which is the largest office transaction in Europe this year, increases profit from property management per share by 18 percent.

Eastnine in discussion regarding major office acquisition

Sweden — Eastnine confirms speculation in the market regarding a potential acquisition.

Skanska sells to Eastnine

Sweden — Skanska has divested the E building of the office project Nowy Rynek in Poznan, Poland, for about EUR 79 million to Eastnine.

"It will be easier to navigate this universe"

Nordic — Eastnine has had a rollercoaster year. Even so, they are reporting the best year yet operationally. CEO Kestutis Sasnauskas says that they are now in several discussions for future transactions.

Eastnine's unwavering faith in offices – these are their expansion plans

Nordic — After the autumn sale of the holding in the Russian company MFG and with a new business plan behind it, Eastnine is ready to grow significantly in the future. CEO Kestutis Sasnauskas tells Nordic Property News about the ambitious growth goals, why they have such a firm belief in the office segment and what type of transactions the company is looking at going forward.

New business plan for Eastnine – only office properties in focus

Nordic — Eastnine’s board has adopted a new business plan. Poland and the Baltics remain to be prioritized markets, as well as the overall target of an attractive total return to shareholders. Eastnine's ambition is to grow the property portfolio, provided that the growth contributes to increased profitability.

Eastnine ready to go against the grain: 'Exciting times ahead'

Nordic — Eastnine has a very stable financial position following the sale of the holding in Russian Melon Fashion Group and the redemption of Eastnine's only bond at the beginning of October. CEO Kestutis Sasnauskas summarizes a historic quarter for the company, which now aims to do the opposite of most other real estate companies and actually go on the offensive in the market. Here he explains more about how it could be done.

Eastnine completes currency exchange of MFG settlement

Nordic — Eastnine has carried out currency exchange of the purchase price received from the sale of the holding in the Russian fashion chain Melon Fashion Group (MFG). After exchange the amount is approximately EUR 144 million.

Eastnine completes Russian divestment

Nordic — Eastnine has entered into an agreement to sell its entire investment in the Russian fashion retailer Melon Fashion Group (MFG). The purchase price for Eastnine’s shares is approximately RUB 15.6 billion corresponding to approximately EUR 149 million.

Eastnine Confident of MFG Sale: "Ongoing Discussions"

Nordic — Eastnine have had a hard time trying to sell its stake in the Russian fashion company Melon Fashion Group, a holding that accounts for almost a quarter of the company's assets. After the aborted deal in March, the company is now holding discussions with other potential buyers, and here CEO Kestutis Sasnauskas explains why he is confident that the company can be sold at the same level as was agreed in connection with the broken deal. He also comments on what must happen if a sale is not possible.

Previously Announced Eastnine Divestment Terminated

Sweden — The agreement regarding sale of Eastnine’s holding in MFG to Sistema PJSFC is terminated. Eastnine will continue to seek an exit from its investment and is in dialogue with potential buyers.

Eastnine Divests Russian Holding

Sweden — Eastnine has entered into an agreement with the listed Russian investment company Sistema PJSFC (Sistema) to divest its entire holding in the Russian fashion retailer Melon Fashion Group (MFG).

Eastnine Acquires Office Building from Skanska

Nordic — Skanska has divested the office building Nowy Rynek D in Poznan, Poland, to Eastnine for EUR 121M.

Eastnine Adds Logistics Properties to the Investment Strategy

Nordic — Eastnine's Board of Directors has decided to broaden the current strategy from offices to include prime logistics properties in the Baltics. Diversification means continued high returns, but at a lower risk level. A broader investment focus further strengthens the company's growth opportunities.

Eastnine Acquires in Riga and Vilnius

Nordic — Eastnine acquires a property portfolio including two office properties in Riga and Vilnius, respectively. The purchase price amounts to EUR 35.5 million.

Office Challenges on the Baltic Market

Nordic — Eastnine's CEO Kestutis Sasnauskas on the future of the office markets in the Baltic countries, and how the pandemic affects the situation today.

Why Eastnine Considers the Baltics to Be the New Nordics

Nordic — Kestutis Sasnauskas, CEO of Eastnine, on the Q3 results, the new business plan, and why the Baltic nations will continue to grow, going forward.

Eastnine Acquires Office Property in Vilnius

Sweden — Eastnine acquires an office property in central Vilnius for EUR 20 million. The property is directly adjacent to Eastnine's property Vertas.

Eastnine Sells Fund Holding

Sweden — Eastnine sells its entire holding in East Capital Baltic Property Fund III. The purchase price amounts to approximately EUR 25.1 million, which corresponds to the fair value at the end of September 2019.

Eastnine Acquires Office Property in Riga

Sweden — Eastnine has signed an agreement to acquire the office property Valdemara Centrs in central Riga. The purchase price amounts to EUR 25 million and the transaction is expected to be closed in the fourth quarter 2019. In connection with the acquisition, Eastnine will establish its own organization in Latvia.

The Best Yields Among the Listed Nordic Companies

Nordic — Nordic Property News presents which of the listed Nordic construction and real estate companies that provide the best yields.

Eastnine to Acquire S7 in Vilnius

Sweden — Listed Swedish Eastnine has signed an agreement to acquire Building I, II and III of S7, a newly built and sustainable A-class office park in Vilnius’ central business district for EUR 128.3M.

"Higher Yields Than in the Nordic Capitals"

Nordic — Just outside the Nordic region there are the Baltics with three former Soviet states that are demanding attention. Eastnine's CEO Kestutis Sasnauskas shares his view on the differences from the Nordic countries and why interest is relatively cool from the real estate companies.

Peter Wågström is Back in the Game

Sweden — Last fall he got fired from the CEO role of construction giant NCC. Now Peter Wågström is back and tells Nordic Property News what attracted him about Eastnine and his future plans.