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International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2019, 09:42

US fund CPA:17–Global buys Kesko Senukai's logistics center in Lithuania for EUR 60 mln

BC, Vilnius, 15.12.2016.Print version
US real estate investment fund CPA:17–Global has purchased, for around 60 million euros, a modern logistics center near Kaunas that is leased to Kesko Senukai, the Baltics' leading do-it-yourself retail chain, informed LETA/BNS.

CPA:17–Global said in a press release on Thursday that it had acquired the logistic center from Baltic Retail Properties, a real estate investment company owned by Zabolis ir Partneriai Kapitalo Valdymas.

"The deal reinforces our expertise in Central and Eastern Europe and further increases the geographical diversification in the fund's portfolio," Arvi Luoma, executive director at W.P.Carey Inc, a US company that manages the fund, said.

Built in 2008, the 60,000-square-meter logistics center is located in Zemaitkiemis, in the district of Kaunas. Kesko Senukai Lithuania uses the center, which it leases under a 15-year contract with the owner, as its main distribution warehouse that serves the chain's stores in Lithuania and most of its stores in the Baltic countries.

Kesko Senukai Lithuania is 50-50% owned by Finland's Kesko and the Rakauskas family.

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