Megarenta bought by Norwegian company

  • 2008-08-26
  • 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).
Thelogistics center was built in two stages in 2005 and 2006 and now is fullyleased to companies including  Mineraliniaivandenys, Lithuania's largest alcohol and tobacco wholesale trader, and MAPLietuva 's a pulp and paper wholesale company. The site was jointlydeveloped by the leading Lithuanian property developers MG Valda, which belongsto 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 growingappetite from investment funds and developers seeking opportunities to acquireexisting contemporary logistic centres as well as searching for possibilities tocooperate with local retail chains, distributors, logistic service providers andmanufacturers."