Yit sells to Baltic Horizon

Baltic Horizon Fund has signed a sales and purchase agreement with Yit subsidiary Yit Kausta to acquire the Duetto II office building currently under construction on 6 Spaudos g. in Vilnius.

The purchase price is around EUR 18.3 mln, which corresponds to an entry yield of 7.1 pct. The transaction is expected to close by the beginning of March 2019, once construction has been completed and the tenants have moved in. The largest tenants in the property are the Vilnius heating company, Sweco and Rimi Lietuva.

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“After the acquisition has been completed, Baltic Horizon Fund will own and manage an attractive office complex with some of the top tenants in Vilnius,” stated fund manager Tarmo Karotam, commenting on the deal.