We advised Luxembourg-based investment company REInvest Asset Management and its fund DEREIF SICAV FIS on acquiring the SEB Bank headquarters building in Vilnius. The company acquired the building from real estate investment fund Lords LB Special Fund II, managed by Lords LB Asset Management. This is one of largest real estate transactions in the Baltic states in 2020.
New investor in the Baltics
The SEB Bank headquarters building is our client’s first investment in the Baltics.
Says Hans Stuckart, Managing Director of REInvest Asset Management: “Due to its size, the Baltic market is a niche. But it offers solid economic fundamentals, future prospects and positive returns which are currently difficult to achieve in other European capitals.”
The building occupies a total area of approx 13,000 m2. It was opened this year and 1,100 SEB employees have relocated to the new office space. In the coming months, it is expected to obtain the highest BREEAM certificate evaluation – “Outstanding”.
Says Marius Žemaitis, Manager of Lords LB Special Fund II: “We are pleased that the real estate project for the SEB Bank headquarters not only met the extremely high criteria set by the tenant but also, in line with our fund’s strategy, was successfully divested to a large international investor starting operations in the Baltic region.”
Our services and project team
We advised the client on transaction structuring and tax issues, as well as implementing the legal due diligence, preparation of transaction documents and other related documentation. Our team consisted of partners Kęstutis Adamonis and Saulė Dagilytė, with senior associate Lina Barniškienė, and associates Ieva Tumalavičiūtė and Gabrielė Raižytė.