Logistics remain strong in the Baltics
Newsec in the Baltics in cooperation with Redgate Capital advised the sale of an 11,000 sqm logistics center owned by Nuudi Kinnisvara OÜ (part of Kaamos Real Estate AS.) in Estonia.
The logistics complex consists of 11,000 sqm warehouse and office space. The property, at Nuudi road 18, Jõelähtme is strategically well located near main transit port of Estonia – Port of Muuga and close to Tallinn-Narva (E20) highway and Tallinn ring road, ensuring ease of access for both major cities and neighbouring countries. The logistics complex is also well situated in relation to railway lines (0,5km from Port of Muuga terminals) and the Tallinn airport.
Logistics premises are leased to Tridens AS, part of Kaupmees & KO group which is owned by OY Transmeri Group AB (Finland). Tridens and Kaupmees are well known wholesale companies in Estonia with close to 30 years of history.
“Next years Kaamos Real Estate will mainly focus on office segment and their Avala Quarter office towers development” commented Priit Uustulnd, CEO of Kaamos Real Estate.
The buyer is an Estonian-based reputable family office. The transaction was structured as the share sale.
Transaction is an excellent example of good positioning vis-à-vis Rail Baltic railroad project, as logistics center is located 0,5 km from planned Rail Baltic cargo terminals in Muuga Harbour.
“During 2020, logistics and industrial properties were one of most desired commercial real estate asset classes in Estonia both from local and foreign investors side. Looking forward, we do not see any significant changes in terms of investor demand in 2021” says Indrek Mihhels, Partner of Newsec Transactions Advisory in Estonia.
Newsec in the Baltics in cooperation with Redgate Capital advised the seller in the transaction. Law firm Sorainen was a legal advisor in the deal.