Obligacijos prekybos parkui su „Lidl“ parduotuve

UAB Skaita

Project identification number: 9845000909E2CCFD9O44-00000011 

 

Use of proceeds 

 

Funds raised through the bonds will be used for the development of a retail park with a LIDL supermarket in Kaunas, Taikos Avenue. This is one of the projects of the closed-ended fund for well informed investors, Retail Opportunity Fund (ROF). The fund invests in the development of high-yield commercial real estate, prioritizing retail parks adjacent to grocery stores. This creates a flow of customers interested in a variety of everyday items. The focus is on the economic retail segment, which demonstrates good performance in the essential goods category even during economic downturns. 

 

ROF attracts grocery supermarkets such as LIDL and IKI to its retail parks, as well as renowned international retail brands such as Pepco, Sinsay and others, which are reliable high-credit score tenants. A wide selection of goods and services forms a valuable neighborhood retail center where residents can get everything in one place, generating a stable flow of customers, which is attractive to tenants. 

 

The retail park developed by ROF, for which funds are currently being raised through bonds on the BeMyBond platform, consists of four properties that have been acquired and are now being adapted to a new strategy. The main newly developed property is a “build-to-suit” 2 000 sq. m supermarket for LIDL, with which a 15-year lease agreement has already been signed. Adjacent to it, a 3 000 sq. m retail space is being developed, for which a sales agreement has been signed with the furniture retailer “Gintaro baldai”, which will both occupy and own the building upon its completion. The building’s interior is being customized for the new owner. 

 

The project consists of two more commercial buildings (3 000 and 2 000 sq. m) that are already built. One houses various retailers and service providers, while the other provides office spaces, so the project is already generating rental income. The plan is to renovate and upgrade these premises as part of the further development of the project. The entire retail park will be integrated with a large parking lot, and the retail spaces will function as an attraction and commercial center for the district, where residents can secure essential goods without leaving their neighborhood. 

 

The project location is also promising - Taikos Avenue is the main connection between Kaunas city center and its northern part, as well as serves as a gateway for Vilnius direction. Large residential areas surround the location, but there are almost no grocery and other daily essential goods providers. A nearby DEPO store also adds to forming a new retail attraction center of the district. It is planned that the construction works of the project will be completed in the first quarter of 2026, and the existing buidlings will be renovated and leased during 2026. It is anticipated that the funds borrowed through bonds will be redeemed from the sale of one of the buildings, further bank financing, or bond refinancing. 

 

The fund has signed a € 20 million, 15-year credit line with Artea Bank (formerly Šiaulių Bankas), and part of this bank financing is used at the project level. Financing through bonds will be executed together with bank financing and will involve second-ranking pledge of real estate properties (plots and buildings). Bonds will also be secured with a guarantee provided by the Fund. 

 

Project structure 
 

The project’s capital structure consists of € 4,5 M shareholders’ equity (27%), including subordinated loans from shareholders, and € 12 M debt financing (73%). The debt financing will consist of € 10 M loan provided by Artea Bank and the remaining € 2 M will be raised through the bonds on the BeMyBond platform. The financing agreement with Artea Bank has already been signed. More detailed information on the capital structure will be provided in the Key Investment Information Sheet on the platform. 

Stakeholder investments 

The BeMyBond team members have invested in this bond issue. It has been done through the platform and with the same bond terms as for all the other investors.

UAB Skaita finansinės ataskaitos už 2023 m.

UAB Skaita finansinės ataskaitos už 2024 m.

Informacinis dokumentas

UAB Skaita finansinės ataskaitos už 2024 m. su peržiūros ataskaita

The owner of the project is Retail Opportunity Fund (ROF), which is developing a retail park with a LIDL supermarket in Kaunas. ROF is managed by the fund management company Aggressive Capital, led by Kęstutis Ivanauskas. 

 

Currently, ROF is developing 12 properties in Lithuania and Latvia. These include “build-to-suit” LIDL and IKI supermarkets, as well as retail parks with a total area of over 24 000 sq. m in Vilnius, Kaunas, Klaipėda, Elektrėnai, and Riga. The plan is for the fund to continue expanding across the Baltic states and Poland, aiming to develop 30-50 properties in total. The size of the fund is expected to reach up to € 50 million during the investment period. 

 

Aggressive Capital has been operating since 2020, when it received a permission from the Bank of Lithuania to manage funds for well informed investors. The company currently manages seven investment funds with assets totalling € 200 million. The custodian of the funds’ assets is Artea Bank, and the auditor is ROSK Consulting. 

 

In addition to ROF, the company manages six other funds. Among them is Nordspace, a commercial real estate fund that develops and rents spaces based on the "business boxes" concept – a more compact version of stock offices for smaller businesses in Lithuania, Latvia, and Poland. The fund currently manages 14 properties. Also, there is the A3 Residential Fund, which invests in nearly completed residential projects and manages apartment sales. This fund has been launched this year through the acquisition of Realco’s premium residential project Algirdo 3 in Vilnius. 

 

Aggressive Capital believes that the future belongs to the brave, which is why it creates funds investing in alternative real estate development strategies. By understanding and actively analyzing the real estate market and weighing each decision carefully, they turn risks into opportunities.

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