EBRD extends a €24.2 million loan to support the construction of SIRIN PARK GARIUNAI logistics park in Vilnius
Bank’s investment comes alongside a €24.2 million loan from Swedbank
Investment to support stronger regional supply chains and the decarbonisation of the real-estate sector
The European Bank for Reconstruction and Development (EBRD) and Swedbank Lithuania are extending a €48.4 million loan facility to support the development of SIRIN PARK GARIUNAI, a state-of-the-art logistics park in Vilnius, Lithuania.
The EBRD facility totals €24.2 million, with €15.8 million committed to date and a €8.4 million tranche to be provided later for future expansion.
The co-financing agreement between SIRIN Development, a leading logistics real-estate developer in the Baltic States, the EBRD and Swedbank, which is providing the initial financial backing for the project and acting as agent, will enable the company to deliver around 100,000 square metres of modern, sustainable warehouse infrastructure.
The SIRIN PARK GARIUNAI logistics park is strategically located near the Vilnius-Kaunas motorway and plays a pivotal role in meeting growing demand for efficient, high-quality warehousing in Lithuania. The park will integrate energy-efficient technologies and target BREEAM Excellent certification, setting a benchmark for green logistics in the region and supporting the decarbonisation of Lithuania’s real-estate sector.
Tomas Kairys, EBRD Head of the Baltic States, said: “Our support for SIRIN PARK GARIUNAI reaffirms our commitment to enhancing Lithuania's green logistics infrastructure. Partnering with SIRIN Development, a leading developer in the Baltic States, gives us confidence in the project's ability to set new standards for sustainability and efficiency in the region.”
Vlaho Kojakovic, EBRD Head of Real Estate, said: “Financing the SIRIN PARK GARIUNAI project developed and managed by SIRIN Development is a clear demonstration of our commitment to sustainable development in the real-estate sector. This project aligns with our 2025-29 real-estate strategy, which emphasises green building practices, innovation, and creating resilient and energy-efficient supply-chain infrastructure.”
Martynas Trimonis, Swedbank’s Head of Real Estate and Energy, said: “The latest agreement, which will secure further funding for the development of the SIRIN PARK GARIUNAI logistics park, marks a successful cooperation between SIRIN Development and its financial partners. We have a have a long-standing history of successful collaboration with SIRIN Development, with over €100 million financing provided to date, and are glad to meet our client’s needs for securing the required funding together with international institutions. We are proud to contribute to the development of sustainable commercial real-estate projects, which have the potential to reduce emission and bring the country closer to its climate mitigation targets.”
Laurynas Kuzavas, CEO of SIRIN Development, said: “The EBRD and Swedbank investment enables us to fast-track one of the most successful industrial real-estate location conversions in the Baltic states. We are driving the transformation of outdated industrial facilities into a modern logistics park designed for the future. This park is built to be both energy efficient and economically viable, offering modern warehouse spaces to businesses at a competitive cost. Already, the park, situated in a prime location, is thriving, with a vibrant business community of logistics, delivery and trading companies. By expanding the park to 100,000 square meters, we will welcome new businesses into the community, providing them with a foundation for growth.”
SIRIN Development is the largest logistics real-estate developer in the Baltic states and the only company in the three countries to be included in PropertyEU Magazine's ranking of the 20 largest logistics property developers in Europe. Operating in the market for more than 15 years, SIRIN Development currently manages more than 333,000 square metres of logistics property in Vilnius, Kaunas, Riga (Latvia) and Tallinn (Estonia).
The EBRD is a leading institutional investor in Lithuania. To date, it has invested more than €1.7 billion in 136 projects across the country.
