Newsec advised Lords LB Asset Management on sales of landmark property in Tallinn (EE)

Newsec acted as an advisor to Lords LB Baltic Fund I, managed by Lords LB Asset Management, in the sales process of 10.5 m² Metro Plaza office building. A grade office property, situated in the center of Tallinn and leased to Trigon Capital, Mandatum life, Regus and other well-known companies, was sold to Swedish property investor East Capital for €21.8 million, reflecting net yield of 7%.
“Metro Plaza is one of the most landmark office properties in the Baltic region and is a good example of product, matching requirements of institutional investors. Moreover, we are happy to see more prime, well maintained properties coming on sale by professional sellers, which can ensure high quality of their assets, lease agreements and the sales process”, said Neringa Rastenyte, Head of transactions at NEWSEC Baltics.
Source: Newsec