Published: 2019-12-03 07:30:00 CET
EfTEN Real Estate Fund III
Company Announcement

EfTEN Real Estate Fund III AS’ Lithuanian subsidiary signed a lease agreement to open KFC restaurant

UAB "Saules Miestas", a subsidiary of EfTEN Real Estate Fund III AS, entered into a long term lease with „APL FRESH FOOD“ UAB, operating on a franchise basis of  KFC (Kentucky Fried Chicken), the world's second-largest restaurant chain, for a term of 10 + 10 years. “APL FRESH FOOD” UAB is a member of the Apollo Group.

UAB "Saules Miestas" will build a separate new building on the existing property at Gumbinės 4, Šiauliai, Lithuania, approx. 350 sq.m, which will be leased exclusively by „APL FRESH FOOD“ UAB.

The total investment to the project is 600 thousand euros, plus VAT. The net yield of the investment, without bank leverage, is 10% per annum after the building has been completed.

Viljar Arakas
Member of the Management Board
Phone: 655 9515