Megarenta bought by Norwegian company

Aug 26, 2008
By Mike Collier

VILNIUS - Norwegian investment company NOR Property Investments AS, has bought Megarenta, the owner of  a 30,000 sq.m. logistics center in Vilnius for LTL 78 million (EUR 22.5 million).
 
The logistics center was built in two stages in 2005 and 2006 and now is fully leased to companies including  Mineraliniai vandenys, Lithuania‘s largest alcohol and tobacco wholesale trader, and MAP Lietuva – a pulp and paper wholesale company. The site was jointly developed by the leading Lithuanian property developers MG Valda, which belongs to the MG Baltic Group, and Ormina which is a member of Ogmios Group.
 
Andrius Stonkus of real estate company Re&Solution, which acted as adviser on the deal, said: “We constantly observe a growing appetite from investment funds and developers seeking opportunities to acquire existing contemporary logistic centres as well as searching for possibilities to cooperate with local retail chains, distributors, logistic service providers and manufacturers."




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