Baltic, Estonia, Financial Services, Funds, Good for Business, Latvia, Markets and Companies, Real Estate, Retail

“It was a hard work for the last six months,” says Viljar Arakas, CEO of EfTEN Capital AS. “We are proud to have a such large scale, true landmark shopping centre addition to our portfolio.” EfTEN Kinnisvarafond II AS completed in June a new share emission in total size of 34,3 mln euros. The shares were subscribed by different Baltic pension funds and life insurance companies as well as by EfTEN Capital seed capital investors.

With acquisition value of 74,5 mln euros Domina transaction is the largest single investment in EfTEN history. It is 8^th acquisition in Latvia managed by EfTEN Capital SIA. The transaction was financed by Nordea bank.

With more than 120 thousand m² Domina shopping Centre is second largest shopping mall in Riga. Built in several stages, completed in year 2006 by real estate developer Pro Kapital.

Domina Shopping Center has more than 160 stores that cover every retail sector. The center maintains a clear focus on premium fashion, featuring international brands such as United Colors of Benetton, Mark & Spencer, H&M, Tommy Hilfiger and Guess.

The sale to EfTEN marks the conclusion of an almost decade-long, successful commitment in Latvia of the globally active investor. In the words of Christian Brode, asset management director of KanAm: “It has been a privilege to serve the citizens of Riga with excellent shopping opportunities for so long. We are now happy to give the Domina Shopping Center into the best new hands."

And, indeed, the new owner has major plans, according to Viktors Savins, CEO of EfTEN in Latvia: “Well experienced center manager Mrs. Dina Bunce is prepared to take over center management to the next level.” Dina Bunce has more than a decade experience in shopping mall management. She was in management of shopping center Spice, Riga for more than 8 years and for the last six years is responsible for the success of shopping Centre in Siauliai Saules Miestas acquired by EfTEN Real Estate Fund III AS last year.

RIMI Baltic has committed they readiness to enter with their best RIMI concepts in to DOMINA shopping Centre. “This will be a great addition to chain of our supermarkets,” says Didzis Kirstuks, Real Estate and Expansion Director of ‎Rimi Baltic.

“The Domina Shopping Center with its uniquely central location and stylishly urban flair fits well into the fund's strategic approach,” says Viktors Savins. “Acquiring the Domina Shopping Center is a major step forward for us and underscores our leading role in the region.”

EfTEN Real Estate Fund II AS is closed-end core real estate fund established in 2015. Fund is managed by EfTEN Capital AS, established in 2008, the company has the alternative fund management licence issued by Estonian Financial Supervision Authority.