| Project Detail |
Location:
Lithuania
Project number:
55417
Business sector:
Property and tourism
Notice type:
Private
Environmental category:
B
Approval date:
02 Jul 2024
Status:
Approved
English-language PSD published:
13 Sep 2024
Provision of a senior loan of up to EUR 32.4 million to UAB Liepvita (the "Borrower", or the "Company"), to be provided alongside an equivalent loan from a parallel lender for the construction and operation of a multi-phase warehouse development project in Vilnius, Lithuania ("J55" or the "Project" ).
The Loan will be provided in two tranches, a committed Tranche 1 totalling EUR 15.6 million (EBRDs portion EUR 7.8 million) for Phase 2 of the Project and an uncommitted Tranche 2 totalling EUR 16.8 million (EBRDs portion EUR 8.4 million) for Phases 3 and 4.
The Project is being developed and managed by UAB Sirin Development (the "Sponsor" or "Sirin"), one of the largest regional real estate developers that operates in Lithuania and Latvia.
Project Objectives
The proceeds from the loan will be used to retroactively finance the phases of the completed and operational warehouse assets with a total GLA of ca. 66k sqm in Vilnius, Lithuania, thus supporting the development of A-class sustainable real estate in the country. |
