Europa Buys First Property in Ukraine for USD 25 million
Wednesday, June, 04, 2008
Europa announces that its Europa Emerging Europe Fund has acquired Logistic Park East I, a 23,856 m2 (256,784 sqft) warehouse for USD 25 million from Ukrainian developer Aladdin Group. The warehouse is in the Kiev region, 15 km northeast of the city centre and close to major transportation routes, including the main Kiev-Moscow highway. The warehouse is fully let to a single tenant, UVK - one of the largest logistics companies in Ukraine, and a subsidiary of the Fozzy Group, one of Ukraine’s largest supermarket companies.
This is the Fund’s first acquisition in Ukraine and it represents an excellent opportunity to invest in a country where demand for logistic facilities is expected to rise over the medium term. Ukraine is a market where few institutional quality assets have been developed and where even fewer are available for purchase. This transaction represents a rare example of the acquisition of such an institutional quality asset.
Tim Norman, Chief Executive of Europa Capital Emerging Europe Limited said: “I am very pleased to announce our purchase of Logistic Park East I - our first step into the Ukrainian market. Despite today’s difficult market conditions, this deal demonstrates that good investment opportunities exist if you have the local knowledge to find them, which we have.”
Notes to editors:
About Europa Capital
Europa Capital is an independent real estate fund management group operating
from offices across Europe. Since 1995, Europa Capital’s principals have
collectively raised 6 real estate funds and committed to over 60 transactions
totalling in excess of €5.0 billion across 17 European countries.
Europa Capital currently manages three pan-European closed ended real estate
funds, which invest across the enlarged European Union countries. In addition,
Europa Capital manages a fourth closed ended fund, the Europa Emerging Europe Fund, which invests in Bulgaria, Romania, Ukraine, Turkey and the western Balkans.
The Europa Funds benefit from Europa Capital’s network of country
partners, who co-invest in acquisitions made by the Europa Funds in their
territory. Many of the country partners have worked closely with the Principals
of Europa Capital during the last 20 years. Further information can be found at
www.europacapital.com.
Europa Capital Partners Ltd and Europa Capital LLP are regulated by the
Financial Services Authority.
For further press information please contact:
Finsbury PR on +44 (0) 20 7251 3801
