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Ellex Advises on Capitalica Z114 Real Estate Fund Prospectus for EUR 20 Million Bond Offering

Ellex Advises on Capitalica Z114 Real Estate Fund Prospectus for EUR 20 Million Bond Offering

Lithuania
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Ellex has advised issuer Capitalica Z114 Real Estate Fund on the preparation and approval process with the Bank of Lithuania for the prospectus underpinning its EUR 20 million bond issuance, with up to EUR 17.6 million in bonds secured with a real estate collateral to be publicly offered in Lithuania, Latvia, and Estonia.

Managed by the Capitalica Asset Management investment company, the Z114 Real Estate Fund focuses on developing class A commercial real estate in the Vilnius central business district.

According to Ellex, the offering will also "be used as a basis for the listing of the company’s bonds on the Nasdaq Baltic alternative securities market First North. The proceeds raised from the bonds will be used to construct modern office building Sand Offices at the intersection of the Zalgirio and Linkmenu streets, at 114 Zalgirio Street, in the capital."

Earlier in 2024, Ellex advised Capitalica Asset Management on establishing the Capitalica Debt Fund (as reported by CEE Legal Matters on January 19, 2024).

The Ellex team included Associate Partner Egle Neverbickiene and Associate Egle Radvilaite.

Ellex did not respond to our inquiry on the matter.