TALLINN, Jan 6 (LETA--BNS) -Eften Real Estate Fund 4, a fund managed by Estonian commercial real estate fund manager Eften Capital AS, has acquired a logisticsproperty in the Kekava rural municipality in Latviafor 16.5 million euros.

Commissioned in 2007, the building houses logistics and office spaces and its gross area amounts to about 39,000 square meters, the entire land plot area being about 10.3 hectares, Eften Capital said.

Located in the outskirts of Riga and next to the Via Baltica, the buildinghouses several tenants, like logistics companies Trialto Latvia and DHL, Tele2, SEB Banka AS and SEB Shared Service Center in Riga.

Viljar Arakas, CEO of Eften Capital AS, highlighted the property's excellent location in the crossroads of different trade routes and with a good access to Riga.

"For the fund, it's also a very attractive transaction when considering the purchase price per square,"Arakas said in a press release.

With the acquisition, Eften Real Estate Fund 4 made its first investment in the logistics segment. The transaction is valued at 16.5 million euros and the Riga office of Colliers International acted as the transaction's adviser.

Eften Real Estate Fund 4 is a closed-end investment fund founded in 2018, which invests in cash flow generating commercial properties in the Baltics.

EfTEN Capital is authorized and regulated by Estonian Financial Supervision Authority. The company is also managing Eften Kinnisvarafond AS, Eften Kinnisvarafond II AS and Eften Real Estate Fund III AS, which is listed on theNasdaq Baltic main list.

The group has 43 commercial buildings in Estonia, Latvia and Lithuania with over 1,100 tenants and a combined market value of 750 million euros.

© Pakistan Press International, source Asianet-Pakistan