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Eika Asset Management establishes its third real estate fund "Eika Development Fund"

On the 13th of July, 2020 The Supervisory Authority of the Bank of Lithuania has approved the constitutional documents of “EIKA Development Fund”, a closed-ended fund for well-informed investors. This will be the third investment fund managed by Eika Asset Management (EAM).

The main investment objective of the fund is to develop residential or mixed-use projects in Vilnius and other major cities in Lithuania, where commercial or retail premises are combined with residential dwellings. The fund will focus on economy and middle-class residential housing projects.

"We believe in opportunities in the residential real estate market in Vilnius in the long term, whilst in the short term we recognise opportunities to acquire projects under development from other developers who have encountered difficulties in completing them. We also see opportunities to invest in other major cities in Lithuania," states Viktorija Orkinė, CEO of Eika Asset Management.

Eika Residential Fund, the first fund managed by EAM fund management company, has been investing in the development of residential real estate projects in Vilnius since 2018. The construction process of "Antakalnio panorama" project has already been completed, with new plans underway to develop a 275-apartment project on Skroblų str. in Vilnius.

The second fund managed by EAM, the closed-ended investment company Eika Real Estate Fund for well-informed investors, invests in commercial real estate objects throughout the Baltic states. At the end of 2019, the investment fund acquired the "Highway" business centre in Vilnius for EUR 5.8 million, with two more investments underway for 2020.

About EAM.

The Bank of Lithuania issued a license for collective investment management activity to EAM in July 2016. The company establishes funds or investment companies that enable well-informed investors to contribute to the sustainable development of the Baltic cities by creating and improving long-term value projects, while investments entrusted to real estate market professionals, earn real estate development returns. EIKA group also invests its capital alongside external investors.