The Nordic Investment Bank (NIB) and commercial real estate company UAB Baltisches Haus have signed a EUR 10 million loan agreement for financing investments in commercial properties in Lithuania.
The five-year-maturity loan will finance the construction of commercial properties hosting supermarkets, pharmacies and other services in small and mid-size towns in Lithuania.
The total area of the buildings is estimated to be 14,100 square metres. They are expected to achieve a BREEAM In-Use certification level of very good for their operational performance.
The new stores will be more energy efficient and provide better environment for both tenants and customers. According to Baltisches Haus, the project will create around 130–150 workplaces, thus having a positive effect on employment and personal income levels in Lithuania’s smaller towns.
Moreover, part of the financing will be directed towards infrastructure development, including streets, bus stations, crossroads or road junctions that will be handed over to local municipalities after completion.
Baltisches Haus develops and manages commercial real estate projects. The company controls more than 260,000 square metres of commercial properties in 39 cities across Lithuania.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
Photo: Pamela Schönberg