The fund, managed by Capitalica Asset Management, acquired 11.6 thousand. square meters of logistics complex in Tallinn, Juri suburb, with 2.4 hectares of land. This location is the largest and most developed logistics and warehousing area in the capital of Estonia. This region concentrates about 40 percent of Tallinn’s industrial stock.
"When investing in real estate objects, we impose strict requirements on the assets must be newly built and in logistically strategic locations. Sustainability is of paramount importance to us, and therefore properties must meet the highest possible energy efficiency, environmental, pollution, and noise reduction standards. We form a real estate fund investment portfolio considering criteria that help mitigate the global climate crisis," says Andrius Barstys, CEO of Capitalica Asset Management.
Capitalica Green Logistics Fund, an investment fund managed by the company, invests in already built and leased logistics centers located near the largest cities and major transport highways throughout the Baltic region. The Fund's strategy focuses on green aspects and their feasibility.
The building complex acquired by Capitalica Asset Management is 100% leased. The main tenants are logistics companies: AMV Logistics, Via Express, and Ferroline Grupp. The purchased complex consists of two buildings: one was built last year, and the other was renovated last year. A solar power plant is installed on one of their roofs.
The attractiveness of the location is projected to increase over time as according to the plan of Rail Baltica, the major railway section will cross this municipality. Also, a Ulemiste rolling-stock depot and dry port will be built nearby. Dry-port in the Tallinn area will carry cargo (container and roro) that does not need to reach the largest Estonian cargo port located in the Muuga region.
"Warehouses and logistics centers remain one of the most attractive commercial real estate sectors in Europe, this segment based on sustainable solutions is promising in terms of both - return on investment and security. In the context of the pandemic, the movement of goods has not stopped, the volume of e-commerce in the Baltic region continues to grow, so investment in logistics currently provides a significant advantage," commented A. Barstys.
Capitalica Asset Management in the transaction has been represented by the law firm Fort Legal and the technical due diligence has been carried out by Projector. The new property manager of the complex will be BPT Real Estate. Orion Securities, a financial brokerage company, contributed to raising the part of necessary capital for the investment.
Capitalica Green Logistics Fund is a collective investment undertaking created for informed investors. Its form of activity is an investment fund, and this fund is managed by Capitalica Asset Management by the trust.
SBA Group company Capitalica Asset Management, which manages commercial real estate in the Baltic States, controls the investment company Capitalica Baltic Real Estate Fund I. It manages the business center "135" located in Vilnius, the business center "Kauno dokas" located in Kaunas, the shopping center "Luize" located in Klaipeda, as well as the development of a business center "Verde" in Riga.
The company Capitalica Asset Management was established in 2016. The controlling stake (70%) of the firm is owned by one of the largest Lithuanian capital business groups SBA, 30 % of the company shares are owned by A. Barstys company Fox Holdings.
