Lumi Capital is delighted to announce that we have begun operating the first rental building in the Linkmenu Quarter in Vilnius. The site was completed on schedule, and we are very pleased with its construction quality. This is an important milestone for our company, as it is the first rental building in the Lumi Capital’s portfolio in Lithuania.The Linkmenu Quarter, in modern Scandinavian style, is situated in one of the most rapidly developing and growing parts of Vilnius, just a short walk from the city centre. An integrated community, it comprises nine residential buildings, of which Lumi Capital is operating two, with a total of 124 apartments. Issued with an A+ energy rating, the quarter has generated a great deal of interest on the rental market: the first contracts have already been signed and the list of reservations is long.
The development places a lot of emphasis on healthy lifestyles – it not only features playgrounds and landscaped courtyards, but also health tracks and training areas, and is not far from parks, entertainment venues and the Old Town.We are operating in Vilnius under the Lumi Kodud brand, adapted for the local market as Lumi Namai or ‘Lumi Homes’. Like its Estonian counterpart (https://www.lumikodud.ee/en/) the Lithuanian website (https://luminamai.lt/en) presents an overview of available apartments, sets out the rental conditions and other key information, and enables those interested to submit their details in order to enter into a rental contract.
Lumi Capital structured the deal and led negotiations and fulfils the role of investment manager and operator. Other rental buildings in the portfolio are due for completion in Riga and Tallinn in 2023. More information about the portfolio can be found online at https://www.lumicapital.eu/en/news/2021/495-vigportfolio
The Linkmenu project forms part of a larger portfolio deal in which the investors are the Vienna Insurance Group subsidiary BTA Baltic Insurance Company and the YIT, who is also the developer of the sites.