"Being environmentally friendly is a must these days. The fund's strategy is to invest in sustainable logistics centers and warehouses or implement "green" initiatives there which later can be measured against the highest BREEAM standards for energy efficiency, environmental protection, pollution and noise reduction," says Andrius Barštys, CEO of Capitalica Asset Management.
The application to assess the sustainability of the logistics complex comprising of two warehouse buildings was submitted last autumn. It has received a BREEAM In-Use (which applies to buildings in operation) certificate with the mark "Good”. This rating confirms that the 11.6 thousand square meter facility meets the established sustainability requirements. During this assessment, a list of various factors was considered, such as building heating and ventilation systems, lighting devices, their types and automation, data about energy consumption, waste management, and work and rest zones for employees.
Sustainability performance assessments for business centers and office buildings are gaining momentum in the last years. This trend is also accelerating in the logistics sector, as the environmentally-friendly solutions here received less attention until now. Logistics complying with the green concept is a perspective and attractive area for investment.
"It provides transparency to our fund. BREEAM certification defines the quality of buildings widely accepted at an international level. When planning exit strategies, sustainability assessments form the basis for the appropriate pricing of these buildings. Environmentally-friendly facilities are also more attractive to tenants as they reflect the ESG principles declared by many companies", - emphasizes A. Barštys.
The ultimate goal is to have all Capitalica Green Logistics Fund buildings certified to meet BREEAM standards. The assessment of the remaining three sites managed by the fund has already started this month. The audit of logistics complexes is conducted by Vesta Consulting, a building sustainability certification and consulting company.
About “Capitalica Asset Management” and “SBA Group”
Capitalica Asset Management (www.capitalica.lt) is an investment management company licensed and supervised by the Central bank of Lithuania and is managing investment funds investing in commercial real estate in the Baltic States. Capitalica Baltic Real Estate Fund, managed by Capitalica Asset Management, owns office complex Verde in Riga, the business center 135 in Vilnius, the business center Kauno Dokas in Kaunas, and the shopping center Luizė in Klaipėda. "Capitalica Z114 Real Estate Fund" currently manages an office and warehouse complex, and in the future plans to develop a new Class A business center on Žalgirio st. in Vilnius. Capitalica Green Logistics Fund owns 3 logistic complexes - two in Tallinn and one in Riga. The controlling stake (70%) of Capitalica Asset Management is held by SBA Group, one of the largest Lithuanian business groups, and another 30% is owned by A. Barštys' (CEO of Capitalica Asset Management) company Fox Holdings.
SBA is one of the largest Lithuanian capital business groups. It consists of more than 30 companies operating in real estate, furniture manufacturing, textile manufacturing, and investment management. The group employs around 4,500 people. Consolidated sales in 2021 amounted to EUR 404.6 million.
