“ZeroSum Asset Management,” which manages six investment funds and companies for informed investors, has acquired 100% of the shares of “ŠVITRIGAILOS 11B UAB” through its managed UTIISI UAB “ZeroSum Mixed Fund II.” “ŠVITRIGAILOS 11B UAB” oversees and administers nearly 13,000 square meters of space, including office areas, parking lots, and a café in Vilnius. This property is strategically located in the rapidly developing Naujamiesčio area, surrounded by new districts and infrastructure that are becoming business hubs.
“This acquisition is an important part of the fund’s strategy to diversify flow properties in the Baltic states,” said Laurynas Byla, CEO of ZeroSum Asset Management. “We believe that tenant trust and cooperation are best reflected in the building’s occupancy, which exceeds 95%. Many tenants have been in this business center for over a decade, proving that the buildings managed by ‘ŠVITRIGAILOS 11B UAB’ are in excellent condition and well-maintained.”
UTIISI UAB “ZeroSum Mixed Fund II” plans to continue investing in the business center’s conference center and common areas to maintain high tenant confidence. These upgrades will add to the business center’s benefits, which are already highly valued by tenants – attractive rental prices and ample parking spaces, which are often not offered by newly built business centers in this city location.
“Currently, the most attractive commercial offices in Vilnius are those where landlords offer furnished spaces or the ability to do so efficiently, without significant tenant involvement, and can offer flexible rental terms,” said Tadas Jonušauskas, Head of Business Banking at SEB Bank. “In recent years, Naujamiesčio has rapidly transformed its commercial landscape – modern business centers have emerged, forming a business community, so the demand for business premises in this area will increase in the future, enhancing property value and liquidity. We appreciate the cooperation, the trust of UTIISI UAB ‘ZeroSum Mixed Fund II,’ and the decision to choose SEB Bank as the loan provider.”
“I am pleased that we could contribute to this transaction – an experienced team of investors acquired a stable and time-tested flow property. We partially financed the transaction through a €2.0 million 50-month bond issue. This is the first investment of the EfTEN Special Opportunities Fund (SOF). EfTEN SOF continues to actively consider investment opportunities in the Baltic states – mainly financing real estate development projects and acquisitions facing capital shortages in the range of €2.0-6.0 million in various forms. By autumn, the maximum investment amount in one project should increase to €10.0 million,” commented Laurynas Žilys, partner at EfTEN Capital Lietuva UAB.
“Although the current market for real estate investment transactions is not active, properties in good locations remain attractive,” said Linas Butkus, director of UAB “Realtum Advisors,” the real estate investment services company that brokered the deal. “Properties like this business center in Naujamiesčio attract attention due to their strategically convenient location and good infrastructure.”
For the registration of the share purchase and sale transaction, UAB FMĮ “OSUM Securities” was chosen for its fast and professional services.
The acquiring entity, UTIISI UAB “ZeroSum Mixed Fund II,” invests directly and through subsidiaries in medium to higher-risk real estate properties in the Baltic states. Currently, the value of the assets managed by “ZeroSum Mixed Fund II” is over €20 million. The target size of the fund is €30 million.