East Capital Baltic Property Fund II has acquired the Metro Plaza office building in the central business district of the Estonian capital Tallinn. The investment volume of €21.8 mln reflects a yield of 7%.
East Capital Baltic Property Fund II has acquired the Metro Plaza office building in the central business district of the Estonian capital Tallinn. The investment volume of €21.8 mln reflects a yield of 7%.
Metro Plaza is the third asset to be sold from the portfolio of Lords LB Baltic Fund I.
Dating from 2009, Metro Plaza comprises 5,550 m2 of office space, 1,600 m2 of retail and 78 underground parking bays. The centre is close to the harbour and within walking distance of nearby Toompea hill, home to Estonia's parliament building and several foreign embassies.
Lords LB Baltic Fund I is a real estate investment fund managed by UAB Lords LB Asset Management. Founded in 2008, Lords LB Asset Management is based in Vilnius, the capital of Lithuania, and provides services to institutional clients and high net worth individuals, focusing on real estate and private equity investment. At present, it manages five real estate and two private equity funds.
East Capital Baltic Property Fund II is managed by Stockholm-based private equity and real estate firm East Capital.