Europa has announced that its Europa Emerging Europe Fund has acquired Logistic Park East I, a 23,856 m² warehouse for US $25 million (approx. €14.8 mln.) from Ukrainian developer Aladdin Group.
The warehouse is in the Kiev region, 15 kilometers northeast of the city center and close to major transportation routes, including the main Kiev-Moscow highway. The warehouse is fully let to a single tenant, UVK - one of the largest logistics companies in Ukraine, and a subsidiary of the Fozzy Group, one of Ukraine's largest supermarket companies.
This is the Fund's first acquisition in Ukraine and it represents an excellent opportunity to invest in a country where demand for logistic facilities is expected to rise over the medium term. Ukraine is a market where few institutional quality assets have been developed and where even fewer are available for purchase. This transaction represents a rare example of the acquisition of such an institutional quality asset.
Tim Norman, Chief Executive of Europa Capital Emerging Europe Limited said, "I am very pleased to announce our purchase of Logistic Park East I - our first step into the Ukrainian market. Despite today's difficult market conditions, this deal demonstrates that good investment opportunities exist if you have the local knowledge to find them, which we have."
Source: Finsbury Group