East Capital Baltic Property Fund II sold three commercial properties

Ellex in Estonia advised on the transaction as a result of which East Capital Baltic Property Fund II sold three commercial real estate objects to the subsidiaries of OÜ Neoinvesteeringud.

As a result of the transaction, OÜ Neoinvesteeringud will acquire a controlling interest in companies operating the Tänassilma logistics centre, the logistics centre in Rae rural municipality where Rimi’s Estonian head office operates, and the Metro Plaza office building in Tallinn city centre.

The first company in question is Jyri Logistics OÜ, which develops and leases a logistics centre in Põrguvälja, Rae rural municipality. The Estonian headquarter and logistics centre of the retail chain Rimi are located on this property. The company’s sales revenue last year was 1.1 million euros and net profit 1.6 million euros.

The second company, Tanassilma Logistics OÜ develops and leases the Tänassilma logistics centre. The Tänassilma logistics centre consists of two immovables located in the village of Tänassilma on the outskirts of Tallinn. The turnover of the company in 2020 was 2.5 million euros and the net profit was 5.5 million euros.

The third company is Metro Ärimaja OÜ, which develops and leases the Metro Plaza office building. The company’s sales revenue was 1.4 million euros last year.

The Ellex team advising the transaction included Partners Martin Käerdi, Martin Triipan and Martin Mäesalu, Counsels Jaanus Ikla and Toomas Kasesalu, Senior Associates Kaisa Laidvee and Gerda Liik, Associate Karin Tartu and Lawyers Miikael Tuus and Erik Seim.