**Eika Real Estate Fund sells a logistics building in Kaunas to its tenant, Camelia pharmacy chain
Eika Real Estate Fund has sold a logistics building in Kaunas, at 9-ojo Forto str., to the Camelia pharmacy chain, which had been renting it. This is the first sale of Eika Real Estate Fund managed by Eika Asset Management.**
In 2021, Eika Real Estate Fund acquired the logistics building at 9-ojo Forto str., Kaunas, with a total area of just over 5,600 square metres, as part of its portfolio. The sale of this building to its tenant, UAB Nemuno vaistinė, which manages the Camelia pharmacy chain, was conducted without a real estate broker. The parties have agreed not to disclose the financial details of the transaction.
Eika Real Estate Fund, intended for informed investors, is managed by the investment management company Eika Asset Management.
According to Viktorija Orkinė, CEO of Eika Asset Management, the close cooperation with UAB Nemuno vaistinė since the conclusion of the lease agreement has enabled the successful implementation of a mutually beneficial transaction.
Aušra Budrikienė, CEO of UAB Nemuno vaistinė, which manages the Camelia pharmacy chain, says that the acquired building meets all the requirements of a pharmaceutical company.
‘During more than 30 years of operation, we have not only increased the number of pharmacies and employees, but we have also continuously improved our operational processes. The rapid expansion of our product range, the development of the company's activities and the need to improve and grow have led us to look for convenient solutions for our central office and warehouse operations. The spacious premises of the building, modern logistics and infrastructure solutions met our requirements, so we decided to buy the building from the landlords,’ says A. Budrikienė.
Eika Real Estate Fund, established in 2019, is a real estate investment fund for informed investors, managed by Eika Asset Management, an investment management company licensed by the Bank of Lithuania, which has been successfully serving private investors since 2017. ‘The fact of the transaction best justifies the value of the building, so with this sale we wanted to prove to our investors that we are able to sell real estate for as much as the value of the property,’ says V. Orkinė.
Eika Real Estate Fund's portfolio includes the Highway office building and Audi and Volkswagen car dealerships in Vilnius, the DHL Lietuva terminal at Vilnius airport, the Tamro logistics centre, the Benu pharmacy manager, in Kaunas FEZ, the ViaCon Baltic production centre in Kaunas district, the Business Centrum Tesla business centre in Slovakia, the Groston shopping centre in Riga and the Celebro business centre in Warsaw.
Eika Asset Management currently manages 5 closed-end funds for informed investors or investment companies. The total value of assets managed by the collective investment undertakings as of 31 December 2023 amounted to more than EUR 90 million. The activities of this management company are licensed and supervised by the Bank of Lithuania and audited by Ernst & Young.