The information set out below has been provided by the company identified herein and is published solely for informational purposes. Nasdaq Baltic does not take responsibility for the accuracy, completeness, or timeliness of the content and assumes no responsibility or liability for any loss or damage arising from its use.
Real estate management company KAITA Living, part of the KAITA Group managing a EUR 58 million rental apartments portfolio in central Vilnius, has successfully completed the public placement of a EUR 2 million bond tranche with an 11.5% annual yield.
Investor demand reached EUR 8.083 million, exceeding the initial tranche offering more than fourfold. Exercising the option provided in the bond terms, the issuer decided to increase the offering size to EUR 8 million. Investors from Lithuania, Estonia, and Latvia actively participated in the offering, submitting over 800 investment orders in total.
The proceeds will be used to refinance two bond issues originally placed in 2023. The bonds have a 2-year maturity and are expected to be listed on the Nasdaq Vilnius First North alternative market within six months.
“We are pleased with the exceptionally strong interest from investors – it reflects growing confidence in our group and in the business model of our rental apartments’ operations. Strategically chosen locations, rapidly growing demand, and a sustainable operating model have allowed us to maintain a 98% occupancy rate across our rental projects. We believe this bond offering appealed to investors seeking asset-backed returns and stable, predictable rental cash flows,” says Ugnius Latvys, CEO of KAITA Group.
KAITA Group is one of the largest real estate development companies in Lithuania, having completed 26 projects across the country. It manages the largest rental apartments portfolio in Lithuania – over 550 apartments, and nearly 1,000 apartments across Europe. In Vilnius, the group is currently developing the “Moods”, “Newton”, and “OFF” projects, with a total of 685 planned apartments.
“Since the beginning of 2025, we have seen more than 10 bond offerings from real estate developers and operators across the Baltic market. What sets KAITA Living apart is that the issuer manages fully developed, centrally located assets with high occupancy rates, and operates a business model based on recurring and relatively predictable rental income. We believe these characteristics, along with the offered security package, contributed to the strong demand from investors in Lithuania, Latvia, and Estonia,” comments Mykantas Urba, Head of Investment Banking at Orion Securities.
The bond offering and placement was organized by Orion Securities.
Information provided by UAB FMI Orion Securities