Evernord Fund Acquires Vilnius Business Center 'Sky Office' Amid Market Optimism

The investment fund "Evernord Real Estate Fund VII" has acquired the "Sky Office" business center in Vilnius, a move signaling confidence in the Lithuanian capital's commercial real estate market.

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New office construction in the capital has noticeably decreased recently, so it is predicted that from 2027, new supply will significantly shrink. As a result, building occupancy will increase and the overall market balance will naturally restore itself. Quality properties have been and will continue to be leased – the best opportunities arise before the entire market sees them.

The "Sky Office," which opened in 2024 in the Viršuliškės district, boasts a high occupancy rate of 95% at the time of acquisition. Its quality was recognized in 2025 when the Lithuanian Real Estate Development Association named it the best commercial property in the country. This acquisition aligns with Evernord's existing expertise in the office segment, as the group already manages a similar modern complex, "Novira Plaza," in Riga.

Simonas Bačiulis, manager of "Evernord Real Estate Fund VII," noted that the current Vilnius office market conditions indicate an approaching turning point. He anticipates a significant reduction in new office supply starting in 2027, which is expected to increase building occupancy and restore market balance. "Quality properties have been and will continue to be leased – the best opportunities arise before the entire market sees them," Bačiulis stated.

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Investor interest in the new fund has exceeded initial expectations, as they are looking for a sustainable basis, not short-term trends. Investor demand exceeded supply during the placement, with almost 10 million euros raised from investors in two weeks. There is no shortage of mature capital in the market currently, which prioritizes not trendy segments, but a clear management structure, quality real estate, and a strong, reliable partner in the transaction. Evernord's goal in new funds remains ambitious – to generate double-digit returns for its investors.

Investors have shown strong interest in the new fund, attracting nearly 10 million euros within two weeks, with demand exceeding supply. Vismantė Šepetienė, head of "Evernord" FMĮ, emphasized that investors seek sustainable foundations rather than short-term trends, prioritizing clear management structures, quality real estate, and reliable partners. The fund's ambitious goal is to generate double-digit returns for its investors. This transaction brings the total assets managed by the "Evernord" group closer to 400 million euros, with an aim to reach 500 million euros in the coming years.

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In the environmentally friendly "Sky Office" business center, we have consistently implemented the entire project development cycle – from design and construction to almost full occupancy of the business center. When creating it, we focused on long-term value – the building was designed so that its technical, sustainability, and energy efficiency solutions meet the requirements for A-class offices, and its quality is confirmed by the BREEAM "Excellent" certificate. We are pleased that today the project is moving into a new phase with a strong institutional investor. This is a natural part of the development of mature commercial real estate projects and, at the same time, confirmation that quality, sustainable properties remain attractive to investors in the market.