EfTEN Real Estate Fund 4 acquired a logistics building in the outskirts of Riga
EfTEN Real Estate Fund 4, a fund managed by EfTEN Capital AS, acquired in Latvia Logistics property in Ķekava parish that encompasses logistics and office spaces.
Viljar Arakas, CEO of EfTEN Capital AS, highlighted the property’s excellent location in the crossroads of different trade routes and with a good access to Riga. “For the fund, it’s also a very attractive transaction when considering the purchase price per square,” added Arakas.
Located in the outskirts of Riga and next to the Via Baltica, the building is housing several tenants, like logistics companies Trialto Latvia and DHL, Tele2, SEB Banka AS and SEB Shared Service Center in Riga. The building was commissioned in 2007 and its gross area amounts to about 39,000 square metres, the entire land plot area being about 10.3 hectares.
With the acquisition, EfTEN Real Estate Fund 4 made its first investment in the logistics segment. The transaction is valued at €16.5m and the Riga office of Colliers International acted as the transaction’s advisor.