{"id":4162,"date":"2025-09-04T14:13:05","date_gmt":"2025-09-04T11:13:05","guid":{"rendered":"https:\/\/www.sirin.eu\/?p=4162"},"modified":"2025-10-27T14:14:39","modified_gmt":"2025-10-27T12:14:39","slug":"sirin-development-secures-nearly-e17m-loan","status":"publish","type":"post","link":"https:\/\/www.sirin.eu\/en\/sirin-development-secures-nearly-e17m-loan\/","title":{"rendered":"\u201eSIRIN Development\u201c secures nearly \u20ac17M loan"},"content":{"rendered":"\n

Real estate developer Sirin Development<\/em> has signed an agreement with commercial bank Luminor<\/em> for a \u20ac16.8 million loan.<\/p>\n\n\n\n

According to the bank\u2019s announcement on Thursday, the funds will be used to finance the expansion of logistics parks in Kaunas, Vilnius, and Riga.<\/p>\n\n\n\n

With this latest loan, Sirin Development\u2019s<\/em> total obligations to Luminor<\/em> now amount to \u20ac77.1 million. The bank has been financing the company for over a decade.<\/p>\n\n\n\n

\u201cThe bank offered a favorable loan structure that fully met our needs. Access to additional financing today means greater flexibility for our business and the ability to reinvest into projects that deliver higher returns,\u201d said Sirin Development<\/em> CEO Laurynas Kuzavas in the statement.<\/p>\n\n\n\n

In 2023, business daily Verslo \u017einios<\/em> reported that Swedbank<\/em>, together with the European Bank for Reconstruction and Development (EBRD), provided a syndicated \u20ac16 million loan for Sirin Development\u2019s<\/em> logistics center \u201cJ55\u201d near Gari\u016bnai in Vilnius. Swedbank<\/em> is also expected to finance further stages of the project, with total funding potentially reaching up to \u20ac50 million.<\/p>\n\n\n\n

In the summer of 2024, Sirin Development<\/em> agreed with SEB Bank<\/em> on a \u20ac25 million loan to finance the development of three logistics parks in Vilnius and Kaunas. A year earlier, in 2023, SEB<\/em> had issued a \u20ac21.5 million loan for warehouse development in the Kaunas Free Economic Zone.<\/p>\n\n\n\n

At the beginning of 2025, Kuzavas told Verslo \u017einios<\/em> that the company plans to invest around \u20ac100 million into logistics real estate projects across the Baltic states and is confident in leasing out the developed warehouse space.<\/p>\n\n\n

\n
\"\"<\/figure>\n<\/div>\n\n\n

Although Sirin Development<\/em> does not file consolidated financial statements with the Lithuanian Center of Registers, Verslo \u017einios<\/em> reported that the company\u2019s consolidated revenue reached \u20ac23.6 million last year.<\/p>\n\n\n\n

The company does not disclose its net profit but confirmed it operated \u201cprofitably\u201d in 2024.<\/p>\n\n\n\n

According to Sirin Development<\/em>, the value of the group\u2019s managed investment assets stands at \u20ac491 million, though its total liabilities were not specified.<\/p>\n\n\n

\n
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Link to the article: https:\/\/www.vz.lt\/statyba-ir-nt\/2025\/09\/04\/sirin-development-dar-kone-17-mln-eur-paskola-572533<\/a><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Real estate developer Sirin Development has signed an agreement with commercial bank Luminor for a \u20ac16.8 million loan. According to the bank\u2019s announcement on Thursday, the funds will be used to finance the expansion of logistics parks in Kaunas, Vilnius, and Riga. With this latest loan, Sirin Development\u2019s total obligations to Luminor now amount to […]<\/p>\n","protected":false},"author":7,"featured_media":4158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\n\u201eSIRIN Development\u201c secures nearly \u20ac17M loan - Sirin<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sirin.eu\/en\/sirin-development-secures-nearly-e17m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u201eSIRIN Development\u201c secures nearly \u20ac17M loan - Sirin\" \/>\n<meta property=\"og:description\" content=\"Real estate developer Sirin Development has signed an agreement with commercial bank Luminor for a \u20ac16.8 million loan. 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