What SIRIN Development does

SIRIN Development is a Baltic industrial and logistics real estate company operating as a full-cycle investor, developer, and long-term owner-operator across Lithuania, Latvia, and Estonia. Headquartered in Vilnius and founded circa 2009, it develops and manages A++ energy-class, BREEAM-certified logistics parks under two core product lines: SIRIN Parks (pre-built, ready-to-use speculative warehouse space with flexible lease terms) and Build-to-Suit (BTS) facilities customized to specific tenant operational, technology, and sustainability requirements. The company controls a ~1.6M m² landbank, manages roughly 470,000–507,000 m² of gross lettable area across named parks (Liepkalnis, Gariūnai, Dobrovolė, KLEZ, Kumpiai, Martinava, Rumbula, Mārupe, Dreiliņi, Tänassilma), and reports a portfolio asset value of €466M with 86% occupancy and 100+ active tenants.

The business monetizes through four mechanics: recurring warehouse rental income (its primary stream, structured as short- and long-term leases across units ranging from ~144 m² to tens of thousands of m²); build-to-suit development fees and long-term leases; periodic asset monetization via sale of completed properties (e.g., the €16M sale to Araneta in Kaunas FEZ) to recycle capital; and embedded property/asset management service fees supported by on-site park management teams. Pricing is quote-based and negotiated per project; no public rate cards are disclosed. Go-to-market is direct enterprise field sales through regional offices in each Baltic country, supported by a website property-finder tool, industry thought leadership, and business-media presence.

Technically, SIRIN differentiates on sustainability and building specification: 100% BREEAM certification (13 certifications held, targeting BREEAM Excellent), 2.54 MW of installed solar capacity, smart building management systems, LED lighting, EV charging, CO₂ monitoring, plus 10.5 m clear heights and 8 t/m² floor loads. It serves six verticals—logistics/3PL, technology and electronics, food and beverage, retail and e-commerce, light manufacturing, and wholesale/distribution—with anchor tenants including Coca-Cola HBC Lietuva, Venipak, IKI, VIA 3L, Edge Autonomy, and Litilit. The company is privately held under parent UAB "ME HOLDING NT," led by CEO Laurynas Kuzavas and Chairman Lars-Oke Tollemark.

Name

SIRIN Development

Legal name

UAB "SIRIN Development"

Website

https://sirin.eu

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

SIRIN Development is a Baltic developer, investor, and operator of A++ energy-class, BREEAM-certified logistics and warehouse parks, leasing pre-built and build-to-suit space to B2B tenants in logistics, retail, food, and manufacturing across Lithuania, Latvia, and Estonia.

Ownership category

akta.pro rank

Product category

Logistics Real Estate Development

NAICS

Real Estate Property Managers (53131), General Warehousing and Storage (493110)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Warehousing & Logistics Facilities Brokerage (BPAJACAA)

akta.pro secondary industries

Industrial Land & Build-to-Suit Site Brokerage (BPAJACAJ), Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ)

Keywords

• Logistics real estate development
• Industrial warehouse leasing
• Build-to-suit solutions
• A++ energy warehouses
• Baltic logistics parks

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Logistics Park Warehouse Rental: SIRIN Development leases A++ energy-efficient warehouse and logistics space to B2B tenants in purpose-built logistics parks across Lithuania, Latvia, and Estonia. Rental income is the primary recurring revenue stream, with leases structured for both short-term and long-term tenancies. Spaces range from small units (~144 m²) to large warehouses (tens of thousands of m²). The company offers flexible lease terms to accommodate tenant needs.
2. Build-to-Suit (BTS) Development: SIRIN Development develops customized warehouse and logistics facilities tailored to specific tenant operational, technology, and sustainability requirements under build-to-suit arrangements. Revenue is generated through development fees and/or long-term leasing of BTS facilities. BTS projects are delivered across all three Baltic States, targeting long-term growth strategies for modern logistics and manufacturing needs.
3. Property Sales and Asset Monetization: SIRIN Development periodically sells completed warehouse properties to operators or end-users, as demonstrated by the €16 million sale of a 16,000 m² warehouse in Kaunas FEZ to Araneta (Baldų turgaus). This model allows the company to recycle capital and reinvest in new development projects.
4. Property Management and Asset Management Services: SIRIN Development acts as long-term property owner and manager, providing ongoing asset management services including proactive maintenance, technical upgrades, sustainability compliance, and on-site park management teams. Revenue is generated through service fees embedded in property management arrangements.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

SIRIN Development develops, owns, and leases A++ energy-efficient industrial and logistics warehouses across the Baltic States (Lithuania, Latvia, Estonia). The company operates as a full-cycle real estate developer offering two core product lines: SIRIN Parks (pre-built, ready-to-lease logistics warehouse facilities) and Build-to-Suit (BTS) custom-built facilities tailored to specific tenant requirements. The portfolio spans approximately 507,000 m² of gross lettable area across all three Baltic countries.

Product overview

SIRIN Development is a full-cycle industrial and commercial real estate development company operating as investor, developer, and long-term property owner. The company offers two core product lines: SIRIN Parks (pre-built, ready-to-use logistics warehouse spaces in shared industrial hubs with flexible lease terms) and Build-to-Suit (BTS) solutions (custom-built facilities tailored to specific tenant requirements). The portfolio spans multiple named parks across Lithuania, Latvia, and Estonia, including SIRIN PARK GARIŪNAI, LIEPKALNIS, DOBROVOLĖ, KLEZ, KUMPIAI, MARTINAVA, RUMBULA, MĀRUPE, DREILIŅI, TÄNASSILMA, and Airport. All facilities are A++ energy-efficient class and BREEAM-certified, with integrated sustainability features including solar panels, LED lighting, BMS systems, EV charging, and green spaces.

Differentiator

Problem solved

Functional benefit

Brands

• SIRIN Parks: Pre-built logistics parks offering ready-to-use warehouse and distribution spaces with shared amenities, security, and flexible lease terms.
• SIRIN Build-to-Suit (BTS)

Products and services

• SIRIN Parks

Quantifiable outcome

• 30% lower operating costs for tenants moving from older warehouses to SIRIN parks
• +4 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered anchor tenant, major, core, minor and significant.

• Litilitanchor tenantChannel Partner/ Reseller/ Distributor · 1 January 2026Lithuanian laser technology startup Litilit is investing €6 million to set up a serial and automated femtosecond laser manufacturing factory within SIRIN Development's facilities in Vilnius. The ~4,000 m² plant will be among the largest globally by femtosecond laser production capacity.
• VenipakmajorChannel Partner/ Reseller/ Distributor · 1 January 2026Venipak is consolidating three Vilnius locations into a new logistics terminal at SIRIN PARK Liepkalnis II, developed by SIRIN Development. Total investment including land, construction, operations preparation, and a modern conveyor system reaches €16 million. This will become Venipak's largest terminal.
• Coca-Cola HBC Lietuvaanchor tenantChannel Partner/ Reseller/ Distributor · 31 March 2025Coca-Cola HBC Lietuva signed a build-to-suit lease with SIRIN Development for a 12,000 m² warehouse in SIRIN PARK KLEZ at Kaunas FEZ. Coca-Cola HBC highlights the use of 100% renewable energy and EV-friendly infrastructure as key reasons for choosing the facility.
• Kaunas Free Economic Zone (FEZ) AdministrationcoreStrategic or Co-development Partner · 1 January 2025SIRIN Development is the largest land manager in Kaunas FEZ, developing logistics real estate projects on 40 hectares of land since 2021. The partnership provides tenants in Kaunas FEZ with access to SIRIN Development's modern warehouse facilities alongside FEZ tax incentives and administrative support managed by Kaunas District Municipality and administration.
• Rail Baltica (Project)minorStrategic or Co-development Partner · 1 January 2025SIRIN Development anticipates that the Rail Baltica rail project will create new logistics opportunities in Latvia and the broader Baltic region. The company is monitoring Rail Baltica development and expects it to unlock additional demand for modern logistics infrastructure near Riga.
• Maxima, Lidl, Moki veži, Eugestaanchor tenantChannel Partner/ Reseller/ Distributor · 1 January 2025Major Lithuanian retailers including Maxima, Lidl, Moki veži, and Eugesta maintain distribution warehouses in the vicinity of SIRIN PARK DOBROVOLĖ in Vilnius, making the location attractive for logistics and last-mile delivery operations. These anchor retailers validate the strategic value of the SIRIN park ecosystem.
• Araneta (Baldų turgaus)significantOthers · 1 January 2024Araneta, operating under the Baldų turgaus brand, acquired a 16,000 m² warehouse, office, and retail showroom from SIRIN Development in Kaunas Free Economic Zone for €16 million. The property was built by SIRIN Development in 2024. This transaction exemplifies SIRIN Development's asset monetization model, selling completed properties to operators while continuing to expand its development pipeline.

Scale indicators16 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• CTP: Listed developer-owner-operator of A-class logistics and industrial parks across Central and Eastern Europe. Directly comparable as a full-cycle sustainable logistics real estate platform that holds long-term.
• VGP: European developer, owner and manager of logistics and semi-industrial parks with strong ESG/energy focus. Mirrors SIRIN's develop-and-hold model and green certification emphasis.
• P3 Logistic Parks: Pan-European long-term owner and developer of logistics properties. Comparable build-to-suit and speculative warehouse leasing model targeting 3PL and e-commerce tenants.
• Panattoni: Leading European industrial/logistics developer active in CEE including build-to-suit warehouses. Directly overlaps with SIRIN's BTS and speculative development activity.

Broad incumbents

• Prologis: Global logistics real estate leader owning and developing warehouse space worldwide. Same core product but far larger scale and broader geography than SIRIN's Baltic focus.
• SEGRO: Major UK/European REIT owning and developing warehouses and industrial estates. Overlapping logistics real estate ownership model but broader European portfolio.
• GLP: Global investor and developer of logistics facilities. Same asset class and BTS capability at much larger, multi-continent scale.
• Logicor: Pan-European owner and operator of logistics and distribution warehouses. Comparable landlord model serving logistics and retail tenants across Europe.

Regional players

• Northern Horizon Capital (Baltic Horizon Fund): Baltic-focused real estate fund owning commercial and logistics assets across Lithuania, Latvia and Estonia. Directly overlapping geography and Baltic income-property focus.
• Merko Ehitus: Estonian construction and real estate development group active across the Baltics. Comparable Baltic developer, though broader across residential and general construction.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sirin-development

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SIRIN Development