EfTEN Real Estate Fund 4 acquired in Lithuania SBA logistics & production site, in the proximity of Klaip\u0117da Sea Port. The deal value is 28.6 million euros and it was financed by Luminor.<\/p>\n
\u201cLocated 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\u201d, said Viljar Arakas, CEO of EfTEN Capital AS.<\/p>\n
\u201cThe deal marks a new stage of SBA Group\u2019s 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\u201d, says Jolanta Gra\u0161ien\u0117, vice president of the SBA Group.<\/p>\n
\u201cWe are happy to be a part of a transaction between two leading enterprises in their fields. SBA industrial park is one of the most ambitious industrial real estate projects in strategic location and adhering to highest environmental requirements which is in line with Luminor priorities to contribute to more sustainable economy\u201d, says Gediminas Kesminas, Luminor real estate project manager.<\/p>\n
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\u2019s companies are an important element in the production and supply chain of IKEA.<\/p>\n
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.<\/p>\n
The property is at the major transport corridors that are connecting Klaip\u0117da and its port with Kaunas and Vilnius. International Palanga Airport is less than 40 km from the SBA logistics & production site.<\/p>\n
\u201cSustainable 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\u2019s 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,\u201d tells Ignas Ma\u010deika, SBA treasury director who managed the deal process.<\/p>\n
During the transaction, legal advisors were the law firm SORAINEN for the SBA Group and FORT for EfTEN Capital AS.<\/p>\n
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 Panev\u0117\u017eys.<\/p>\n","protected":false},"excerpt":{"rendered":"
EfTEN Real Estate Fund 4 acquired in Lithuania SBA logistics & production site, in the proximity of Klaip\u0117da Sea Port. The deal value is 28.6 million euros and it was financed by Luminor. \u201cLocated at an international logistics hub, the property also excels as the greenest warehouse, and production facility in the Baltics, which fits […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"class_list":["post-5359","post","type-post","status-publish","format-standard","hentry","category-eften-real-estate-fund-4-news"],"yoast_head":"\n