Baltic Horizon Fund (the Fund) announced on 19th of January 2017 a plan to sign a sales purchase agreement to acquire Duetto I office property in Vilnius, Lithuania. On 22nd of March 2017, the sales purchase agreement was signed with YIT Kausta būstas. The purchase price under the agreement was €14.6 million (excluding VAT). YIT Kausta būstas has also issued a two year guarantee for starting net operating income.
The property is located in the second high-rise office area of Vilnius, next to the newly completed western ring road. The building has 10 floors and underground parking space. Net leasable area of the Duetto I office building is 8,327 sqm. The property is of A class energy efficiency. The property is anchored by Lindorff and Pernod Ricard. The Fund also obtained a call option to acquire neighbouring Duetto II when the building is constructed in the future.