Estonia, Funds, Good for Business, Investments, Lithuania, Logistics, Markets and Companies, Transport
International Internet Magazine. Baltic States news & analytics
Monday, 11.11.2024, 22:25
EfTEN Real Estate Fund 4 acquired SBA logistics and production site in Klaipėda
"Located at an international logistics hub, the property also excels as the greenest warehouse, and production facility in the Baltics, which fits well the portfolio of EfTEN Real Estate Fund 4, the first ever green real estate fund in the Baltics", said Viljar Arakas, CEO of EfTEN Capital AS.
"The deal marks a new stage of SBA Group's expansion. We have successfully developed unique real estate objects based on green technologies, and now we are realising the created added value. At the same time, we mobilise resources for our new strategic and ambitious projects, oriented to the global markets", said Jolanta Grašienė, vice president of the SBA Group.
On the property are newly built warehouse and production facility with about 44,000 sq m of gross leasable area in total. Upon conclusion of the sales and purchase agreement, both buildings will be leased to Innovo logistika UAB, according to a lease agreement of 15 years. SBA Furniture Group, which is the largest exporter of furniture in the Baltic countries, is the parent company of Innovo logistika UAB. The group's companies are an important element in the production and supply chain of IKEA.
The SBA logistics and production buildings constitute the 1st and 2nd stage of the SBA Industry Innovation Valley with 50 ha total area, including over 160,000 sq m of class A+ green technology based buildings to be completed by the year 2027.
The property is at the major transport corridors that are connecting Klaipėda and its port with Kaunas and Vilnius. International Palanga Airport is less than 40 km from the SBA logistics & production site.
"Sustainable and innovative projects in strategic locations, with reliable tenants and long-term contracts, are indeed in demand. When selecting a buyer, we raised high-reliability expectations, which would ensure not only successful completion of this transaction, but smooth cooperation in the future, too. The buyer's approach and their vision for long-term cooperation were in line with our expectations and, despite the pandemic, the professional teams from both parties closed the transaction very promptly", told Ignas Mačeika, SBA treasury director who managed the deal process.
During the transaction, legal advisors were the law firm SORAINEN for the SBA Group and FORT for EfTEN Capital AS.
After the acquisition, five properties are in the EfTEN Real Estate Fund 4 investment portfolio, including Kadrioru business centre in Tallinn, Dominante logistics centre in Riga, River Mall shopping centre/River Hall business centre in Kaunas and RYO Shopping centre in Panevėžys.
- 28.01.2022 BONO aims at a billion!
- 26.08.2021 LLC Dizozols Investments finalizes investment attraction deal with Crowdestor with record-high profits
- 13.02.2021 Моя жизнь в газете. Очерки по новейшей истории Латвии. Глава 1
- 30.12.2020 Накануне 25-летия Балтийский курс/The Baltic Course уходит с рынка деловых СМИ
- 30.12.2020 On the verge of its 25th anniversary, The Baltic Course leaves business media market
- 30.12.2020 Business Education Plus предлагает анонсы бизнес-обучений в январе-феврале 2021 года
- 30.12.2020 EU to buy additional 100 mln doses of coronavirus vaccine
- 30.12.2020 ЕС закупит 100 млн. дополнительных доз вакцины Biontech и Pfizer
- 29.12.2020 В Латвии вводят комендантский час, ЧС продлена до 7 февраля
- 29.12.2020 Latvia to impose curfew, state of emergency to be extended until February 7