East Capital adds new asset to its portfolio – commercial property complex leased by “Pigu”

An investment fund managed by East Capital has closed its new deal and added new investment into its portfolio. This time East Capital acquired a new warehouse and distribution centre leased by the largest e-commerce player in the Baltics – Pigu. The property was taken over by the tenant very recently: this July Pigu moved into this new 6,500 m² area complex located in Laisvės pr., Vilnius. The new home of Pigu Lithuanian branch was build and fitted out to meet the tenant’s requirements and includes a new format pick-up store, modern office and distribution warehouse.

We are thrilled about this transaction as SPC legal Real Estate and Construction team was involved and worked with this project from its start: more than a year ago we assisted the sellers in negotiating a built-to-suit lease agreement with Pigu, and now we assisted the client on the exit of their investment. We are happy about the client and successful real estate investment transaction. Completion of this deal adds yet another item into the map of very active real estate market of 2021 and also shows confidence of institutional investors about sustainability and robustness of e-commerce players. This acquisition by East Capital Fund is the second fund’s acquisition in Lithuania, and the fourth in the Baltic States.

The team led by partner Povilas Karlonas advised the sellers on the structure and terms of the transaction and represented in negotiations with the buyer.

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