R.B. Management Group (RBM) announced the acquisition by its retail property
concern SIA Apex Investments (Apex) of a commercial property in Tukums, Latvia.
The subject of the purchase is a newly built 3,300 m2 property fully let to DIY
retailer “K-Rauta”, owned by Rautakesko of Finland. The seller was advised by
SIA Veduta. RBM represented Apex in the transaction.
Commenting on the purchase, Jerry Wirth, partner of RBM, said “We are happy to
see another asset under the Apex umbrella, and feel confident of the cash flow
we have added to our portfolio even amidst the difficulties of the current
market. It was a pleasure working with Veduta, and we are particularly pleased
to have acquired an asset with a tenant of the quality of K-Rauta.”
“It was enjoyable working with RBM, with a feeling of competence and
organization during the deal. In light of this, there was little time wasted in
completing the transaction.” says Guntars Cauna, broker in the deal from SIA
Veduta.
With the new acquisition, Apex Investments owns nine supermarkets, DIY and
shopping centres in Latvia, and expects to close on the tenth in Q1, 2008. Its
investments focus on well located assets with quality anchor tenants including
Rimi Baltic and SuperNetto. It has a subordinated debenture listed on the Riga
Stock Exchange. Facilities management services for all of its properties are
provided by R.B. Management SIA.
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For further information, please contact:
Apex: Matt Mežinskis
Telephone: +371 67333504
E-mail: matt@rbm.lv
About R.B. Management Group:
The RBM Group is a closely held real estate investment and development concern
that has been investing in Baltic real estate since 1995. During this time, RBM
has acquired a wealth of experience in acquisitions, sale leasebacks, structured
finance and development. With a dedicated and professional staff, RBM has grown
their business from a single asset into a diversified portfolio including
supermarkets, DIY, office buildings, leisure properties, and logistics
developments. Their major tenants include Rimi Latvia, Supernetto, K Rauta,
Ernst & Young, IF, Olympic Casinos, TNS, and L'Oreal. In addition, RBM provides
facilities management services to group companies, and to outside clients.