Eastnine acquires an office property in Vilnius

Eastnine acquires a modern office property, Uptown Park, for EUR 40 million. The property, which is located in a developing area near the central station of Vilnius, is taken over immediately.

The property comprises a total of 12,700 sq.m. of lettable space and just over 300 parking spaces, most of which are in garages. Uptown Park is fully let to mainly two tenants: Vinted and Bentley Systems. Vinted, which has created an online platform for second-hand fashion, is Lithuania's first "unicorn" (privately owned company valued at more than USD 1 billion) in the technology sector. Bentley Systems is a US-based global software developer. Total annual rent amounts to EUR 2.3 million and the average remaining lease term exceeds five years.

The property, which was completed in 2020, is located in the rapidly developing area Naujamiestis or "New town". The area is on the rise with increasing attractiveness, much due to the central location and proximity to both the central station and the Old town. The area closest to the station in Vilnius has been named the fifth coolest area in the world by the news site Time Out.

"It is gratifying to be able to add another modern office property to our fine property portfolio, in an area that attracts more and more tenants and developers", says Kestutis Sasnauskas, CEO of Eastnine.

The seller and developer of the property is Vilbra. Eastnine will initiate an environmental certification process with the intention that the property can be certified with LEED Platinum.

Eastnine AB (publ)

For more information contact:

Kestutis Sasnauskas, CEO, [phone]
Britt-Marie Nyman, CFO and Deputy CEO, [phone]

Visit www.eastnine.com

Eastnine AB is a Swedish real estate company with a property value of EUR 416m and a long-term net asset value of EUR 343m as of 30 September 2021. Eastnine's vision is to create and provide prime venues where ideas can flow, people can meet, and successful business can be developed. The mission is that Eastnine shall be the leading long-term provider of modern and sustainable office and logistics premises in prime locations in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm Mid Cap, sector Real Estate.

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