On 26 August 2022 a special purpose entity of the Capitalica Baltic Real Estate
Fund I,managed by the SBA Group company Capitalica Asset Management, redeemed
bonds for 19 million euros.
The 2-year bond emission with a 5 percent fixed annual interest rate has been
issued through private placement during this year. Funds received for the bonds
were invested into Verde business center in Riga consisting of two Class A
office buildings. Institutional investors acquired the vast majority of the
bonds. The early redemption was covered by one tranch of the EUR 60 million SEB
Bank loan granted to the company in July of this year.
"Even though a total EUR 36 million value bond emission was planned this year,
we have received a loan from the SEB Bank for refunding already issued bonds
and financing further development of Verde business center. We are confident
about the potential of commercial real estate in the Latvian market. With our
views on the development of the greenest office center in Riga coincided, the
bank's trust and the granted loan will ensure the smooth progress of the
project and its completion according to the scheduled deadlines," - says
Andrius Barštys, the CEO of Capitalica Asset Management.
The first tenants of the Verde office complex moved in already in August. 78
percent of the first building's office space is already leased. So far this is
the only Class A office building completed and commissioned in Latvia this
year. The entire office complex is planned to be completed by mid of 2023.
The bond emmission was arranged by Šiauliu bankas.
About "Capitalica Asset Management" and "SBA Group"
Capitalica Asset Management (www.capitalica.lt) is an investment management
company licensed and supervised by the Central bank of Lithuania and is
managing investment funds investing in commercial real estate in the Baltic
States. Capitalica Baltic Real Estate Fund, managed by Capitalica Asset
Management, owns office complex Verde in Riga, the business center 135 in
Vilnius, the business center Kauno Dokas in Kaunas, and the shopping center
Luize in Klaipeda. "Capitalica Z114 Real Estate Fund" currently manages an
office and warehouse complex, and in the future plans to develop a new Class A
business center on Žalgirio st. in Vilnius. Capitalica Green Logistics Fund
owns 3 logistic complexes - two in Tallinn and one in Riga. The controlling
stake (70%) of Capitalica Asset Management is held by SBA Group, one of the
largest Lithuanian business groups, and another 30% is owned by A. Barštys'
(CEO of Capitalica Asset Management) company Fox Holdings.
SBA is one of the largest Lithuanian capital business groups. It consists of
more than 30 companies operating in real estate, furniture manufacturing,
textile manufacturing, and investment management. The group employs around
5,000 people. Consolidated sales in 2021 amounted to EUR 404.6 million.
Information for media:
Andrius Barštys
CEO of Capitalica Asset Management
Andrius.Barstys@capitalica.lt
+370 612 30260© 2022 GlobeNewswire
