REInvest receives award for best office property in the Baltic States

SEB Bank’s impressive head office in Vilnius offers intelligent sustainability concept

The Luxembourg asset and investment specialist REInvest Asset Management S.A. now has the Best Office and Project Development 2021 in the Baltic States in the form of the SEB Bank headquarters in the Lithuanian capital Vilnius. This was confirmed by the “Baltic Real Estate Forum” when it presented REInvest with an award in the “Office” category.

The building was acquired a year ago for the DEREIF SICAV-FIS fund which invests throughout Europe. The principal investor of the Luxembourg-based real estate special fund is a major German insurance company.

The “Baltic Real Estate Awards” were presented for the 10th time in November 2021. They are traditionally organised by the largest Lithuanian business newspaper “Verslo žinios”. The renowned jury recognises the best projects in five categories – “Residential”, “Office”, “Shopping Centre”, “Logistics” and “Conversion” – on the basis of a long list of criteria. In the “Office” category, awards are given to newly constructed or revitalised office buildings that offer their owners and users significant added value. This includes an effective energy and environmental profile, but also future-proof room concepts which can be adjusted flexibly to meet the changing needs of the tenants.

The property is the only one in the region to receive an “Outstanding” British BREEAM sustainability certificate. BREEAM stands for Building Research Establishment Environmental Assessment Method and is the oldest and most widely used certification system for sustainable construction. It was introduced in 1990.

“This award for our premium property in Lithuania clearly shows how important ESG is for the future viability of real estate. When developing a project, you have the chance to make ESG a central quality requirement from the outset. For us as investors, we now take this for granted,” explains Hans Stuckart, CEO of REInvest.

“The ESG aspects of real estate represent not only environmental but also commercial factors. Those who fail to invest sufficiently in these today will have to reckon with considerable loss of value or the real estate becoming unsaleable in the future. And that is why we specifically chose to invest in the SEB headquarters in Vilnius because it is one of the best and most sustainable pieces of real estate in the entire Baltic region,” says Martin Nolting, Executive Director for Business Development at REInvest.

The office complex has a total area of around 13,000 square metres and is located on Konstitucijos Avenue between the National Art Gallery and the Forum Palace in the main business district of Vilnius. SEB Bank has been the sole tenant since summer 2020.