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 Gumbin?s 4, Shiauliai, 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
E-mail: viljar.arakas@eften.ee
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