Closed-end investment company for informed investors UAB CAPITALICA Z114 REAL ESTATE FUND, legal entity code 305198076, registered address at Žalgirio st. 114, LT-09300 Vilnius, Republic of Lithuania (the Issuer), managed by UAB Capitalica Asset Management in few tranches issued bonds with total nominal value of 16 844 000 euros. The funds were raised for developing a business center "Sand Offices" in Vilnius.
"Sand Offices" construction works are completed and currently fit-out works based on tenants’ needs are being carried out. From the start of the project until December 31, 2025, 23.2 million euros have been already invested. The total project budget amounts to 25.5 million euros. Based on an estimate there should be no budget overrun while completion of the project is 91 percent.
LTC (loan to cost) ratio as of December 31, 2025 was 71.9 percent.
The value of the project, based on an independent valuation report, as of December 31, 2025, amounted to 28.2 million euros.