Real estate development company Galio Group has agreed to sell the Wave business centre to a fund managed by GROA Capital. The office building, located in Vilnius’ Naujamiestis district, is being acquired by Groa Real Estate Opportunity Fund, a closed-end investment company for qualified investors managed by the fund management company GROA Capital. The value of the transaction has not been disclosed by mutual agreement of the parties.
According to Nerijus Maknevičius, CEO of Galio Group, the transaction reflects the company’s consistent asset management and development strategy. “As a developer and active real estate portfolio manager, we regularly assess our portfolio, market conditions, and opportunities to unlock the value we have created. When the right buyer emerges and both parties agree on acceptable terms, we remain open to sale transactions. The proceeds will be directed toward the further development of new projects and the achievement of the Group’s long-term objectives,” says N. Maknevičius.
Nerijus Dagilis notes that the acquisition represents another strategic step in GROA Capital’s continued expansion of the Groa Real Estate Opportunity Fund portfolio, which consists of premium-quality commercial properties with reliable tenants and stable cash flows. In 2025, the fund acquired the ILTE and Meraki office buildings, and the acquisition of Wave further enhances portfolio diversification and supports attractive returns for investors.
“The acquisition of Wave is a clear example of the type of asset we seek for our portfolio: a modern, BREEAM-certified Class A building that is fully leased to reputable international and local tenants and generates stable and predictable cash flows,” says Nerijus Dagilis, CEO of GROA Capital. “Together with the ILTE and Meraki buildings acquired in 2025, we are building a portfolio that creates long-term value for our investors and delivers exceptional returns with low risk.”
According to Dagilis, GROA Capital’s strategy is straightforward: “We acquire the best assets on competitive terms and manage them professionally, thereby providing investors with long-term, low-risk returns.”He adds: “This transaction sends another clear message to investors – GROA Capital consistently delivers on its promises.”
Completed in 2020, the Class A Wave business centre is located at Savanorių Avenue 5 in a strategically attractive area of Vilnius’ Naujamiestis district. The six-storey building comprises nearly 16,000 sq. m of total floor area, including almost 10,000 sq. m of leasable space. The property is currently fully occupied.
The business centre has been awarded the BREEAM New Construction Excellent sustainability certification, confirming its high standards of energy efficiency and environmental sustainability.
The transaction is expected to be completed no later than 31 August, subject to the fulfilment of all agreed conditions. The parties reached the agreement directly, without the involvement of brokers or intermediary firms.
This is not the first transaction between Galio Group and GROA Capital. In 2022, Galio Group sold the Freedom 36 business centre, leased to the Girteka Group, to Groa Real Estate Fund I, a fund managed by GROA Capital.
Galio Group is operating successfully in the market for 20 years and has established itself as a strong leader in both the commercial and residential real estate sectors. The company has developed nearly 95,000 sq. m of office space in Lithuania and Latvia. It is currently developing the multifunctional Remarco complex in Vilnius’ Markučiai district, as well as the residential projects reVINGIS and Mosso.
GROA Capital is a fund management company supervised by the Bank of Lithuania. Its investment focus is commercial real estate in the Baltic States, with the aim of building a portfolio that provides investors with sustainable long-term returns generated by low-risk, assets with stable recurring cash flows.
Groa Real Estate Opportunity Fund is a closed-end investment company for informed investors managed by GROA Capital.