We assisted Deka Immobilien in securing acquisition of the Quadrum business centre in Vilnius from Norwegian-owned real estate company Schage Real Estate for about EUR 156 million. The building complex will be added to the portfolio of the Deka-ImmobilienGlobal open-ended real estate fund.
This is the largest investment transaction in the Baltic office real estate market to date. Completion of the transaction is expected to take place in approx 2 months.
One of the largest business centres in the Baltics
“Quadrum” consists of the “East” and “North” portfolio buildings, both built in 2016, and the “South” building, still under construction and scheduled for completion in November 2019.
The building complex offers a total of around 44,000 m² of leasable space that is almost fully leased. The “East” and “North” office towers have received “very good” BREEAM sustainability certification. Quadrum’s largest tenant is Luminor Bank, which occupies about one third of the area. In total, more than 35 international and local companies are renting premises in the complex.
Deka Immobilien’s first business centre acquisition in Lithuania
Quadrum is the first business centre in Lithuania acquired by Deka Immobilien. In 2007 this German investor acquired the BIG shopping centre in Vilnius and in 2008 the Akropolis shopping centre in Kaunas.
Purchase of the “Quadrum” complex allows Deka-ImmobilienGlobal to enter the office market in Lithuania and further expand the global geographical diversification of its portfolio.
Deka Immobilien is the specialist in real estate investments within the German Deka Group.
Our services and team
Our team advised the client on all matters related to the transaction. The team consisted of partner Kęstutis Adamonis with senior associates Karolis Kunigėlis and Lina Barniškienė, counsel Asta Augutytė-Rapkevičienė and associate Lukas Vaišvila plus senior associate Edita Daukšienė.
Newsec Baltics advised Norwegian Schage Eiendom on the sale of the business centre in Vilnius. The seller was advised by law firm TGS Baltics Lithuania.