Eften Real Estate Fund has finalized the acquisition of a portfolio of five assets from EPI Baltic I Real Estate Fund managed by BPT Asset Management and Amplion.
The value of the transaction is 30.5 million euros and it represents the biggest investment made so far in the history of Eften, the company said.
The portfolio includes one retail asset and four industrial and logistic assets -- K-Rauta in Tallinn's Tondi area, Logistika Pluss in the Lasnamae district, Stora Enso's production and warehousing facility at Tanassilma, Mediq warehouse at Saue and Hanza Mechanics warehouse in Tartu. The total rentable area is 40,000 square meters.
«Eften is constantly looking for quality investments in Estonia and this portfolio with a strong cash flow and quality properties fulfills our requirements very well. It also marks our first investment in the logistics real estate sector,» said Viljar Arakas, CEO of Eften Capital that manages the fund.
The transaction has been approved by the Estonian Competition Authority.
«We are very pleased that despite the challenges in financial and property markets all over Europe, we have been able to execute the strategy of the fund in the best interest of the investors,» BPT fund manager Jussi Palmu said adding that BPT will remain active in the Baltic states through its Baltic Opportunity Fund which still is open to new investors.
Eften Real Estate Fund was established by Eften Capital in 2008. The fund invests in commercial properties. Its portfolio comprises 22 assets in Estonia, Latvia and Lithuania with a total rentable area of 148,000 square meters.