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EfTEN has acquired the Bergi logistics center

A purchase agreement has been signed between EfTEN Real Estate Fund 4 and Lords LB Baltic Fund III, according to which EfTEN will acquire the Bergi logistics center.

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This is the largest purchase of this type of building since 2018. The transaction is expected to be completed in the next few months.

The area of ​​the Bergi logistics center is approximately 50,000 m2. The property was built in 2008 and is leased to two main tenants: Do It, a Danish home furniture importer and distributor operating under the retail name Jysk, and Orkla Logistics, a branded consumer food supplier. specialized retail, pharmaceutical and confectionery sectors.

Viktors Savins, Chairman of the Board of EfTEN Capital Latvia, points out that investments in the properties of the logistics segment currently offer one of the best profitability indicators.

“Bergi Logistics Center fits well into our portfolio due to its location in the strategic Pieriga region with easy access to the Freeport of Riga. In the new Covid era, logistics is experiencing rapid growth. Bergi is an ideal logistics center with easy access to the northern and eastern regions countries) and is one of the best premium class places for logistics in Riga, “he adds.

“The sale of the Bergi Logistics Center is an important milestone in our exit from Baltic Fund III. The agreement to dispose of the second asset within a few months demonstrates that there is a positive market demand for the assets we manage and we plan to continue to ensure a successful exit. “indicates the representatives of Lords LB Baltic Fund III.

In 2020, transactions in the logistics sector in the amount of more than 50 million euros have already taken place, which makes up approximately 40% of the total volume of transactions in Latvia.

“We are currently seeing a significant increase in interest in logistics assets in the Baltic market from both local and regional market participants, so investors are expected to divert large amounts of capital to this type of property in the near future. We are now seeing real deals and the results of such strategic investor focus,” Andrius Svolka, Newsec’s transaction manager.

Newsec acted as a consultant to Lords LB Baltic Fund III in the transaction. Seller represented “Gravel“law firm, but the buyer was represented by Henrih Damroze. The buyer of the acquisition will be”SEB Latvia “.

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