Swedbank Grants €30 Million to SG Capital Fund for Logistics Center Acquisition
04.03.2021
The real estate fund SG Capital Partners Fund I, in collaboration with Swedbank, has acquired a 90,000 square meter logistics complex in Rīga-Dreiliņi, purchasing all capital shares from SIA Beinits and SIA Balt Cargo Solutions.
Swedbank provided financial support of €30 million for this transaction, while the remaining amount was SG Capital’s own investment. The logistics center is fully leased to both local and international tenants, including companies such as Depo, Latvijas Balzams, Via 3L, Tamro, TOP, and others.
As emphasized by SG Capital Partners Chairman Harijs Švarcs:
“This transaction would not have been possible without the establishment of a trusted partnership with long-term collaborators. We are very pleased with this investment, as it will serve as a valuable addition to our managed Fund and its investors.”
“The size and location of the logistics center make it highly attractive not only for logistics operations but also for employees working in the center. The many warehouse and office tenants benefit from excellent services and a well-maintained, green environment. Sustainability and environmental responsibility are among our Fund’s core values, and we will continue to develop them, just as we do in Skanstes City and other Fund investments.”
Meanwhile, Swedbank’s Head of Corporate Banking, Lauris Mencis, stated:
“Collaboration with the SG Capital fund is important because both we and other investors value not only the commercial potential and future returns of properties but also corporate responsibility. It is essential to invest in properties that enhance working conditions for tenants and address environmental concerns—for example, through energy efficiency improvements. SG Capital Fund is an excellent example of how local capital ambitions align with global challenges.”
SG Capital Partners Fund I KS is a Latvia-registered commercial real estate fund, managed by SG Capital Partners AIFP, an alternative investment fund manager registered with the Financial and Capital Market Commission. The Fund’s total assets exceed €140 million.
Legal representatives in this transaction included Ellex Kļaviņš and Rasa, Ešenvalds, Radziņš, while the sales process and negotiations were coordinated by real estate company Latio. The total transaction cost has been kept confidential.
Article: https://blog.swedbank.lv/finanses/sg-capital-partners-fund-8323
