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 September 30, 2025, 22.6 million euros have been already invested. The total project budget amounts to 25.5 million euros. Based on an estimate were should be no budget overrun while completion of the project is 89 percent.
LTC (loan to cost) ratio as of September 30, 2025 was 71.1 percent.
Value of the project, based on last available independent valuation report performed as of June 30, 2025, amounted to 27.5 million euros.