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East Capital’s fund acquires Nehatu logistics park in Tallinn

Juhan Tere, BC, Tallinn, 03.07.2017.Print version
East Capital Baltic Property Fund III managed by East Capital announces the signing of an agreement to acquire Nehatu logistics park in Tallinn from logistics and industrial park operator VGP. The price of the transaction is 54 mln euros, making it one of the largest transactions in Estonia since the fund bought Hilton hotel in 2016, reported BC the press service of the fund.

According to East Capital Real Estate CEO Madis Raidma, the class-A logistics and manufacturing real estate at one of the arteries of traffic in Tallinn is an attractive investment that is perfect addition to the portfolio.

 

The greatest assets of Nehatu logistics park according to Raidma are strong and long-term tenants, excellent location and accessibility.

 

Logistics park includes more than 77 000 square meters of class-A semi-industrial premises suitable for logistics, industrial and commercial activities. The tenants of the Nehatu logistics park are CF&S Estonia, Aston Synthetics and Lemoine Estonia, to name a few.

 

Transaction will take effect once it has been approved by Estonian Competition Authority. Advisors to buyer were KPMG and RaidlaEllex.

 

VGP operates logistics and industrial parks in Germany, the Czech Republic, Latvia, Estonia, Slovakia, Hungary, Romania and Spain. Its shares are listed on the Euronext in Brussels and the Prague Stock Exchange.





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