"YIT Lietuva" for 23 million Eur will build "Urban HUB" in Vilnius
The sustainable urban development and construction company YIT Lietuva sold the plant of the German polymer company Rehau, built in the Klaipėda Free Economic Zone (FEZ) according to the Build-to-suit model, to the investor Hili Properties. 19 thousand sq.m. area factory in a record time was designed and built according to the individual needs of the customer. The entire project took 12 months from site preparation to investor involvement.
Following the transaction, Rehau will lease the plant from the new building manager, Malta-based Hili Properties. The plant is expected to start operations in January next year. It will employ more than 100 staff. The factory will produce underfloor heating pipes.
The transaction advisor to YIT Lithuania was Newsec Baltics. The buyer was represented by Reverest Asset Management at the time of the transaction. Legal advice was provided by the law firm Walless.
"When evaluating the available projects, the investors we represent focus on the stability of the tenants of the facilities, the term of the lease agreement and reliable developers with a good reputation in the market. The project of the Rehau plant in Klaipeda met all these criteria, so it was decided to invest in it, ”says Linas Žilevičius, a partner of Reverest Asset Management.
During the implementation of the plant project, YIT Lietuva took care not only of the design and construction works, but also of solving legal and administrative issues and acquiring the necessary technologies.
According to Kęstutis Vanagas, the general manager of YIT Lietuva, the factory building, which has been up and running for just a year, is proof that the construction of a new building tailored to individual needs can be a much more efficient way than adapting existing standardized premises to their needs.
"Although the project was complex and posed additional challenges due to the pandemic and supply chain disruptions, it is planned to be successful and timely by the end of November. The end of the project is crowned by a successful investor search. We have no doubt that the project will benefit all parties, and most importantly - the economy of Klaipeda region and the whole of Lithuania, to the growth of which one of the leading German industrial companies will contribute by operating in a new factory meeting the highest standards, ”says K. Vanagas.
According to K. Vanags, the relevance and need for Build-to-suit projects in Lithuania continues to grow, but they can only be undertaken by experienced and financially capable developers. YIT Lietuva is ready to respond to the current market needs and implement more similar projects in the near future.
The company also recently built a Juta NT car dealership and service center under the Build-to-suit model. Also previously implemented the Prisma shopping center project in Viršuliškės, Vilnius.
YIT Lietuva is also currently building the Gerų baldų fabrikas in Kaunas FEZ, converting the buildings of Kauno baldai and building a new factory, developing the Naujasis Skansenas Ž business center in Vilnius, and building the Vilnius House of Polish Culture, also implements other contracting projects.
About Hili properties
Hili Properties owns and leases commercial real estate in Lithuania, Latvia, Estonia, Malta and Romania. The value of the company's real estate portfolio amounts to more than 115 million. euros.
About the REHAU Group
The Rehau Group is a specialist polymer company with annual sales of around € 3.5 billion. euros. The independent privately held company has more than 170 offices worldwide with approximately 20,000 employees. workers. The company offers solutions to the construction, automotive and industrial industries and markets its innovative products worldwide.