Lords LB Baltic Fund II - the official start of building a Class A business centre in Vilnius (EU)

VILNIUS, Lithuania - Nov. 21, 2013 - PRLog -- On the 18th of November 2013 , a symbolic capsule was buried to mark the official start of building a Class A business centre, k29. Taking shape on Konstitucijos Avenue, it will become a new highlight on the right bank of the river Neris – a modern building with outstanding architecture surrounded by a green zone. The value of the project totals LTL 104 million. Construction is scheduled to be completed in December 2014.

“It is an important investment project for the reviving right bank of the river Neris – both in terms of infrastructure and new jobs, which will count more than 1,800. Construction of k29 will result in a new park and a renovated section of Lvovo Street,” Vilnius mayor, Artūras Zuokas, said.

Scheduled to open its door next year, the business centre will total 14,250 m2 in floor space. The complex will be surrounded by a 2-hectare green zone and will offer as many as 560 parking spaces. The project developer, the Lords LB Baltic Fund II real estate investment fund, plans to invest LTL 100 million in k29. Another 4 million will be earmarked for the adjacent public areas – a city park with parking spaces between Konstitucijos Ave. 29 and the Lithuanian Children and Youth Centre.

“The quality of the workplace is vital for staff motivation, and hence for performance and efficiency. This awareness has lead us to many solutions that we use to create the new business centre. From its central location and the surrounding green zone, convenient communication and parking lots to outstanding architecture, cosy and spacious facilities and a convenient place to work: all this has been blended and designed for people to the ultimate quality and convenience standards ,” Domas Kačinskas, director of UAB K29, said.

The design, layout and advanced technologies of the Scandi-style business centre will ensure convenient working conditions for office staff at k29. Thanks to a glass facade, offices will get plenty of natural light flowing through the windows from above. Opening windows will create a microclimate that ensures fresh air. The building will house an internal recreation space. The surrounding green zone will be an outstanding highlight of k29, including a park and a Japanese garden, designed to be situated side-by-side. In addition, the section of Lvovo Street near the new project awaits renovation.

About k29
A Class business centre, k29, will be built on the intersection of Konstitucijos Ave. and Geležinio vilko Street. The glass Scandi-style building will total 14,250 m2 in floor space, will be surrounded by a 2-hectare green zone and will offer as many as 560 parking spaces.
The value of the project totals LTL 100 million. Construction is scheduled to be completed in December 2014.

About Lords LB Bal t ic Fund II
Lords LB Baltic Fund II is a real estate fund managed by UAB Lords LB Asset Management. Founded in 2008, Lords LB Asset Management provides services to institutional clients and high net worth individuals, focusing on real estate and private equity investment. At present, it manages five real estate and two private equity funds. Lords LB Asset Management is a licensed fund management company supervised by the Bank of Lithuania. AB SEB bankas and AB Swedbank act as depositories while the management company and all the managed funds are audited by UAB PricewaterhouseCoopers.