Colliers Baltic has launched a new business venture in Lithuania by offering property management services to East Capital Real Estate

Colliers Baltic, a real estate services company, has launched property management services in Lithuania. The company signed an agreement with East Capital Real Estate, a leading Swedish-based real estate manager in Central and Eastern Europe, to provide management services for its entire portfolio of four properties in Vilnius.

Following the signing of the service agreement with East Capital Real Estate, Colliers Baltic has been entrusted with the management of nearly 45,000 sqm of office, logistics, and retail space.

According to Aurimas Astramskas, Head of Colliers Baltic in Lithuania, the expansion of services is planned in response to market demand and the requests of existing clients.

"We have already been providing property management services on a small scale in response to client demand. This led us to expand our service package, grow our team, and focus more on a new area. Whether we are providing landlord or tenant representation, investment advisory, property development, etc., we are very familiar with the needs of both parties, the challenges they face, and how we can solve them. We are looking forward to putting all these competences to work on the new partner's properties," said Mr. Astramskas.

Colliers Baltic's functions will cover budget preparation, strategy implementation, leasing, property maintenance (including repairs and improvements), insurance, and documentation preparation.

Colliers Baltic currently employs more than 120 professionals, 30 of whom are based in Lithuania. The main areas of service are brokerage in retail, office, and industrial segments, tenant representation, capital market valuation, research and consultancy, technical project supervision, and real estate management.

"Colliers is one of the world's leading real estate services and investment management companies, operating in 63 countries. Currently, the company's projects include the Artery business centre designed by D. Libeskinds Studio, Core and Yellowstone business centres, Vikings Business Valley retail, warehouse, and office complex, etc.