International real estate (NT) consulting company "Newsec"mediated the sale of 18 sq.m. m logistics center owned by the Norwegian company "BCP Logistics Property III". The object for almost 000 million Eur was purchased by the current tenant UAB "Vingės Terminalas".
The logistics and office complex consists of 16 sq.m. m storage facilities and 755 sq. m office premises. The facility is located in a strategically convenient location: 1 km from Vilnius, near the main Lithuanian highway Vilnius-Kaunas-Klaipeda (A1), which ensures smooth communication with both major cities and neighboring countries. The logistics complex is also characterized by good connections with railway lines, Vilnius and Kaunas airports.
Currently, "Vingės Terminalas" and other related companies provide comprehensive services of warehousing, preparation and labeling of goods, delivery of goods and mediation in customs.
According to Sigurd Persson, representative of the seller BCP Logistics Property III, the successful cooperation with Vingės Terminal has lasted for more than 10 years. The facility was built by "Vingės Terminalo" itself back in 2007-2008, and due to the need for funds for the development of the main activity, the logistics center was successfully sold to the Norwegian Capital Fund. Today, after more than ten years, "Vingės Terminalas" purchased a logistics center.
"We see an increasing interest of local and foreign investors in real estate in the logistics segment, so the history of Vingės Terminal is an excellent example of how leasebacks (eng. sales leaseback) method, it is possible to successfully finance the growth of your core business without keeping "frozen" capital. At the moment, there is a lack of supply of quality logistics/storage facilities on the market, so we urge companies that have real estate on their balance sheets to seriously consider selling it on a leaseback basis," says Andrius Švolka, head of Newsec's investment transactions group in the Baltic countries.
During the transaction, the seller was advised by Newsec and the law firm Wallace.
