Real estate investment fund "Lords LB Baltic Fund IV" is expanding its business in Estonia

By: Lords LB Asset Managemen
 
TALLINN, Estonia - Nov. 21, 2016 - PRLog -- Lords LB Baltic Fund IV is expanding its business in Estonia

Real estate investment fund Lords LB Baltic Fund IV acquired the third object – a complex of offices EU House. The building situated in the very heart of Tallinn houses the representative offices of the European Commission and of the European Parliament, audit company EY, law firm Lextal, etc. However, it is not the last purchase of the Fund in the Baltic capital cities.


Closed-end real estate fund Lords LB Baltic Fund IV controlled by the investment management company Lords LB Asset Management started its activities in 2015. The fund makes investments into cash flow generating commercial real estate projects in the Baltic States. In the same year, the first object of the fund opened its doors in Vilnius – complex of offices k29 in Konstitucijos avenue. In March 2016, the Fund increased its assets with 200 room Comfort Hotel LT situated on Kaunas Street, Vilnius.

EU House office building of the area of 9 670 sq.m. located in the centre of Tallinn is the third purchase of the Fund throughout the years of its operation. The building houses the representative offices of the European Commission and of the European Parliament in Estonia. Besides, Estonian branch of audit company EY, law firm Lextal, pharmaceutical companies AbbVie, Magnum and other international companies have their offices in the building.

According to board member of Norber Group representing the sellers of the object Jaanus Paas, the sale transaction will secure more resources available for investment into other potential projects. Buyer was advised by Sorainen and The selle by Teder law firms. The Seller's financial and real estate advisor was Catella which also coordinated the negotiations.

Lords LB Baltic Fund IV started marketing its last issue of EUR 30 million units.

"Lords LB Baltic Fund IV is operating according to the plan; therefore the third property acquisition in Tallinn was very timely. According to the current indicators, we continue searching for potential objects in the Baltic capitals", said Fund Manager Manfredas Dargužis about the business development.

The assets under management of Lords LB Baltic Fund IV amount to EUR 89 million, while target return is 12 per cent. The Fund is planned to operate until 2022 with 2 years business prolongation option.

Lords LB Asset Management is investment management company licensed by the Bank of Lithuania, providing services to institutional and private investors since 2008. At present, Lords LB Asset Management controls 13 funds: nine real estate funds, two private capital funds and two energy and infrastructure funds. The total value of the assets controlled by the funds in the end of July 2016 was EUR 258 million.

Lords LB Asset Management http://lordslb.lt
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Source:Lords LB Asset Managemen
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Tags:Property, Estonia, Baltic
Industry:Real Estate
Location:Tallinn - Tallinn - Estonia
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