EfTEN Capital has acquired a five-asset portfolio in one of the largest real estate transactions in the Estonian market for several years.
EfTEN Capital has acquired a five-asset portfolio in one of the largest real estate transactions in the Estonian market for several years.
EfTEN, an asset manager based in the Estonian capital Tallinn, bought the four industrial assets and one retail property from EPI Baltic I, a fund managed by BPT Asset Management and Amplion, for €30 mln.
The portfolio comprises a total rentable area of 40,000 m2.
'EfTEN is looking for quality investments in Estonia and this portfolio with strong cash flow and quality properties fulfils our requirements very well and it marks our first investment to logistics real estate sector,' said Viljar Arakas, CEO of EfTEN Capital.
Jyrki Konsala, director at Amplion, which is in charge of managing the portfolio, added: 'This transaction is one of the biggest in the Estonian market for the last few years and we are very glad to notice the wide interest in quality properties like these.'
EPI Baltic was advised by Catella Corporate Finance (property and financial advisory) and RED (legal advisory). EfTEN Real Estate Fund was advised by Nordeus Law firm.
Financing was provided by Danske Bank.
