Real estate investment fund Lords LB Baltic Fund IV acquired the third project – a complex of offices EU House.
EU House office building of the area of 9670m² 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 seller 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 €30m units.
The assets under management of Lords LB Baltic Fund IV amount to €89m, while target return is 12 per cent. The Fund is planned to operate until 2022 with 2 years business prolongation option.
