East Capital Real Estate acquires Via 3L logistics complex in Estonia
East Capital Real Estate acquires a 33,000 m2 Via 3L logistics complex located in Rae Municipality, Estonia. The seller is Loginvest (part of Jungent Group and Via 3L logistic services), and Jungent Group holding company will remain as a long-term tenant. This transaction is the third investment for East Capital Real Estate IV.
Via 3L is a modern logistics park, with an excellent location along the Tallinn Ring Road, ensuring very good accessibility from the main highways, ports and the airport. Central Tallinn and the port can be reached in 15 minutes and the airport is located only five minutes away from the property. The logistics park was built in two stages with the latest part finalised in 2014, and leasable premises cover nearly 33,000 m². This is a sales-lease-back transaction, where the current owner, Loginvest, remains with a long-term lease agreement.
This is the third investment in the East Capital Real Estate IV fund, which focuses on modern business and logistics premises in the Baltics and Central Europe. The fund’s previous investments include the Estonian headquarters of the Swedish banking group SEB, and Jankiskiu Logistics Park in Lithuania. East Capital Real Estate IV has a total investment capacity of EUR 400 million.
“We are delighted to take over these very well-situated modern facilities and enter into a long-term relationship with Via 3L which is one of the leading logistics operators and related services companies in the region. This acquisition complements our portfolio very well and adds to our position as the largest owner of modern logistics premises, with 240,000 m² of leasable premises across the three Baltic states”, says Albin Rosengren, Head of East Capital Real Estate.
The transaction shall enter into force following authorisation from the Competition Authority. The transaction is financed by SEB and the process was advised by Ellex Raidla, on the buyer’s side, and Walless and Redgate Capital in cooperation with Newsec Baltics, on the seller’s side.
The price of the transaction is confidential.