UAB Project RE1 Signs €19 Million Loan Agreement with AB Swedbank

UAB Project RE1, the company managing the Yellowstone Business Center located at J. Jasinskio g. 14B, Vilnius, has signed a €19 million loan agreement with AB Swedbank.

The funds will be used to refinance a €12.5 million loan previously taken from AB Artea Bank and to redeem in advance up to €6.5 million of the €8 million bond issue of UAB Jasinskio 14 Project, in accordance with the terms and conditions set out in the bond issue documentation. The company will provide separate updates regarding the specific stages of the bond redemption process.

Under the terms of the credit agreement, the loan from AB Swedbank will be disbursed in installments upon fulfillment of certain specified conditions. This transaction marks the transition of the Yellowstone Business Center from its development phase to a stable operational stage.

“The start of cooperation with Swedbank confirms the successful implementation of the project and demonstrates the confidence of one of the country’s strongest financial institutions. This will allow us to effectively refinance existing liabilities, ensure a sustainable capital structure, and move into a stable phase of operations. It also sends a clear signal to our investors and tenants that the project is being developed responsibly, with a focus on long-term value,” said Agnius Tamošaitis, CEO of UAB Project RE1 and UAB Jasinskio 14 Project.

All interior works at the 13,415 sq. m Yellowstone business centre have been completed. Currently, 86% of the total space has been leased, with 82% already handed over to various companies and organizations for their operations. The remaining tenants are expected to move in soon.

The main investors in the project, through KUB Jasinskio 14, are Taba Invest, managed by Tautvydas Barštys, and Unseen Pictures, owned by Marius Jovaiša. Together they account for 59.7% of the total investment, while the remaining 12 investors each hold less than 7% of the project’s shares.