The property business continues to develop well, in spite of rising interest expenses. Profit from property management rose by close to 50 per cent during the period due to a larger property.
This is an unofficial translation of the Swedish notice. In case of any discrepancies between the Swedish notice and this English translation, the Swedish notice shall prevail.
Shareholders. | March 29, 2023
Eastnine and Vastint sign EUR 35.5m office portfolio deal in the Baltics
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Swedish Eastnine signed an agreement to acquire two office properties from Vastint (Interogo Holding) â the UNIQ business centre in Vilnius, Lithuania, and the Zala 1 office building in Riga, Latvia. The EUR 35.5 million transaction is expected to close within Q2 2021.
âWe are pleased to be growing our portfolio with the acquisition of these two properties. UNIQ and Zala 1 represent desirable, well-located, and high-quality offices that are very complementary to our existing footprint in both Vilnius and Riga. This transaction consolidates Eastnineâs position as the leading prime office landlord and investor in the Baltics, having assembled a portfolio exceeding 130,000 sqm in gross leasable area and EUR 400 million in value over the past four years,â says Kestutis Sasnauskas, the CEO of Eastnine.