The asset is rented long term to Swedish owned plastics, electronics and medical production companies. Site allows expansion possibilities. The buyer was a private equity investor.
The transaction volume was 6.9 million.
Olev Mait Makk, Partner, Seven Real Estate Advisors, said: "Eurostat forecasts Estonia to be the fastest growing economy in Eurozone during this and next year making it an attractive investment destination.
Properties with stable cash-flows are in high demand from local, Nordic and Russian investors. Even if export sector across Europe is under pressure over last quarters Estonia benefits from lower cost base and favorable tax system. Every quarter we have inquiries from Nordic companies with plans relocating operations to Baltics. Interested sectors rage from manufacturing to IT".
Seven Real Estate Advisors, a leading pan-Baltic real estate advisory firm, advised XANO Industri AB (publ) on the divestment of industrial property in Tallinn and release equity from real estate.
Source: Seven Real Estate Advisors