Lumi Retail Property Fund managed by Lumi Capital acquired second neighbourhood shopping center in Tallinn. The anchor tenant of the shopping center is the Maxima retail chain.
This is Lumi Retail Property Fund's fourth investment. The previous investment was made in June 2018 when the Kärberi Center was acquired in Tallinn. The assets of the Fund include Aardla Selver in Tartu and a Maxima neighbourhood shopping center in Narva.
Lumi Retail Property Fund is specialising in investing in neighbourhood shopping centres and grocery stores in the Baltic countries of Estonia, Latvia and Lithuania. The total volume of the fund's investments will amount to EUR 100 million with a time period of 20 years. The anchor investor in the fund is Swedbank pension funds - the biggest provider of pension solutions in Estonia.
