EPI Baltic I, a fund managed by BPT Asset Management and Amplion, has sold a portfolio of five assets in Estonia to EfTEN Real Estate Fund, managed by EfTEN Capital.
The portfolio is diversified with one retail asset and four industrial / logistic assets. Total rentable area is some 40 000 m² and the transaction volume is € 30 500 000.
”We are very pleased that despite the challenges in financial and property markets all over Europe, we have been able to execute the strategy of the fund in the best interest of the investors”, notes Jussi Palmu, the Fund Manager at BPT, and also remarks that ”in the Baltic countries BPT remains active also on the buy-side through its BOF fund which still is open also for new investors”.
”EfTEN is looking for quality investments in Estonia and this portfolio with strong cash flow and quality properties fulfills our requirements very well and it marks our first investment to logistics real estate sector”, states Viljar Arakas, CEO of EfTEN Capital.
”This transaction is one of the biggest in the Estonian market within the last few years and we are very glad to notice the wide interest in quality properties like these”, adds Jyrki Konsala, Director at Amplion, which is in charge of managing the portfolio.
The transaction has been approved by the Estonian Competition Authority. 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.