20 May 2020
EUR 64.5 million
Industries and services
|Date of agreement:||7 May 2020|
|Customer:||UAB Baltisches Haus|
|Amount in EUR:||EUR 10 million|
|NACE sector / loan type:||Real estate activities|
|Business area:||Industries and services|
The loan has been granted to finance the company’s investments in commercial real estate buildings in Lithuania.
The properties will be leased out as grocery stores, pharmacies and other services in small and mid-size towns in Lithuania.
Construction of all buildings is expected to be completed by the end of 2023.
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.
Being designed specifically for retail purposes, the new stores will be more energy efficient and provide some financial savings and a better environment both for tenants and customers. The total area of the buildings is estimated to be 14,100 square metres.
The buildings will have digitalized meters that will allow the consumption of water, electricity and gas to be monitored, as well as provide data for analytics and design of future projects.
The company expects that as a result of the investments there will be some positive impact on the local economy, mostly in form of new and / or retained employment opportunities. According to Baltisches Haus, the project will create around 130–150 workplaces.
The investments will also have wider impacts, as part of the financing will be directed towards infrastructure development, including streets, bus stations, crossroads and road junctions that will be handed over to local municipalities after completion.
The buildings are expected to be certified “Very Good” in accordance with BREEAM In-Use certification. BREEAM In-Use is intended for existing buildings and focuses on operational performance. It assesses parameters such as energy, water, transport, management, waste, pollution, health and well-being, land use and ecology and materials.
All buildings are designed to be A+ in energy efficiency class. Measures to increase the energy efficiency and sustainability of the buildings include automated building control and energy use monitoring systems, heat recovery in the ventilation systems, and CO2 as refrigerant.
Expected impacts related to the investment:
No significant sustainability issues have been identified in relation to the project.