Baltic Sea Properties AS entered into a new development and lease agreement with ESO. This agreement is for an office and part warehouse complex, comprising 4,340 sqm, at " Liepu Parkas" development project -- a 16,000 sqm business & retail park in Klaipeda, Lithuania's third-largest city. The new development provides ESO with a new strategically located regional hub, to support their role in the maintenance and development of the energy distribution networks, as part of Ignitis Group's operations in Western Lithuania.

The agreement includes a 10-year lease term based on triple net principles. The property will be certified under the BREEAM sustainability rating scheme and designed to incorporate renewable energy production. The total estimated development cost of the first building with land and associated infrastructure is approximately EUR 8.5 million (around NOK 97 million).