Preparations are underway for further development in Kaunas
„Financing from Luminor marks a major milestone for Urban HUB Kaunas as it approaches its next phase of growth. The project is already 90% occupied, home to more than 40 local and international businesses and strong anchor tenants. This strategic partnership optimises our capital structure, provides attractive terms, and sets the stage for further expansion of the project,“ says Kasparas Juška, Head of Investment at SBA Urban.
„Projects such as Urban HUB contribute to strengthening the economic environment – they provide businesses with modern and flexible infrastructure, attract new investment and new businesses, and create the conditions for their further growth. We can see that demand for high-quality commercial space in Kaunas remains strong, so by financing such a project we are contributing not only to its development, but also to the growth of the wider business ecosystem in the region,“ says Vytis Žegužauskas, Head of Business Banking at Luminor.
A property portfolio worth EUR 100 million
Luminor’s funding is designated for the first phase of the project, which has 22,000 square metres of leasable space. Artea will remain the lender for the second phase, which involves further development alongside the 5,600-square-metre retail building already constructed. Once the project is fully developed, the project’s total leasable area is expected to reach around 60,000 square metres.
Today, over 40 different businesses have already set up in Urban HUB Kaunas. The campus is home to the Via Lietuva offices, specialist retail businesses such as Lonas, Oxygen, Vasarė and IKI Lietuva, as well as a BYD electric car showroom and many others. The project’s overall occupancy rate exceeds 90 per cent.
SBA Urban HUB projects are being developed in collaboration with partners TABA Invest and the European Bank for Reconstruction and Development (EBRD). The total value of the investment portfolio for both campuses amounts to approximately EUR 100 million.