Lithuania developer Eriadas and investment company closed fund DIFF Develop have acquired the ERGO insurance HQ building in Vilnius.
The ERGO HQ building, on Geležinio Vilko Street, covers more than 6,600 square meters. The sales price was not disclosed.
Eriadas director Vita Žutautaitė, says it plans to design and develop new commercial and administrative buildings in the near future.
“In the coming years, a major transformation from an industrial district to a commercial and residential one is planned in Vilkpėdė, due to which it has the opportunity to become a new center of business attraction. The attractiveness of the place is also enhanced by the fact that on one side it is bordered by a transport hub, from which all districts of Vilnius, other major Lithuanian cities and the airport are easily accessible.”
Colliers advised Ergo in the transaction. Regimantas Kacevicius, Partner and head of the investment division of Colliers Baltics in Lithuania, says, “The strategic positioning of the property within the city is noteworthy. Neighbouring pivotal infrastructure nodes such as Vignis Park and a mere stone’s throw from the city center, it harbours immense promise for future development.”
