Ellex has advised the East Capital Baltic Property Fund II on the sale of three commercial real estate assets to Neoinvesteeringud subsidiaries.
According to the firm, "as a result of the transaction, Neoinvesteeringud will acquire a controlling interest in companies operating the Tanassilma logistics center, the logistics center in Rae rural municipality where Rimi’s Estonian head office operates, and the Metro Plaza office building in Tallinn city center."
Jyri Logistics develops and leases a logistics center in Porguvalja, Rae rural municipality. Tanassilma Logistics develops and leases the Tanassilma logistics center and consists of two assets located in the village of Tanassilma, Tallinn. Metro Arimaja develops and leases the Metro Plaza office building.
East Capital Real Estate is a real estate manager focusing on commercial real estate investments in the Baltics and Central Europe, primarily in the logistics, office, retail, and hospitality sectors.
Neoinvesteeringud is an Estonian holding company that is active in real estate investments.
"The assets purchased from East Capital Real Estate fit into our portfolio, are well managed, and are strategically located," Neoinvesteeringud Management Board member Anders Anderson commented. "We believe that we can provide high-quality service to the current and future tenants of these assets, while also being a long-term partner."
The Ellex team included Partners Martin Kaerdi, Martin Triipan, and Martin Maesalu, Counsels Jaanus Ikla and Toomas Kasesalu, Senior Associates Kaisa Laidvee and Gerda Liik, Associate Karin Tartu, and Lawyers Miikael Tuus and Erik Seim.
Ellex did not respond to our inquiry on the matter.