Special closed-end real estate investment company AB Tewox has announced that Luminor Bank will provide up to EUR 16.98 million in financing for grocery store projects developed by companies managed by it in Vilnius, Klaipeda, Dituva village in Klaipeda District, and for the already completed retail park in Utena.
The tenants of the properties in Vilnius, Dituva, and Utena are stores of the IKI retail chain, while the Klaipeda project will be leased to Lidl. The total additional leasable area of the developed properties will amount to nearly 11,000 square meters.
The largest of the four financed projects is a nearly 5,000 square meter retail park in Utena, which includes the second IKI store in the city. Other tenants – Zalioji stotele and the fashion retailer Sinsay – will open to customers in the first quarter of this year, according to Tewox.
The total value of the retail park project is approximately EUR 8 million, and the project is seeking a BREEAM Excellent rating.
In 2025, Tewox and Lidl Lietuva have entered into an acquisition-and-lease-back agreement for two newly built Lidl stores in Lithuania: a 1,979-square-meter store in Jurbarkas, and a 2,312-square-meter store in Panevezys. (as reported by CEE Real Estate Matters on April 16, 2025).
Image source: luminor.lt