Redgate Capital advised ITT Capital on selling industrial property in Estonia and leasing it to Harmet
The property is located nearby Keila, not far from capital city Tallinn. The industrial property was built in 2017 with the total area of 28,164 sqm, including manufacturing, warehouse and office spaces. The property is leased to Harmet OÜ under long term rental agreement. Harmet is the largest modular houses production company in the Baltics. Company is exporting over 90% of the production to mainly Sweden, other Nordic and European countries. Company employees over 700 people.
The property was bought by Corum Origin, an independent asset management company, originated from France, investing in real estate all over Europe. The total assets under management are ca. 2 billion euros as of the end of 2018.
The transaction was advised by Redgate Capital’s real estate transaction advisor Indrek Mihhels and partner Aare Tammemäe. The legal advisers of the transactions were Sirel & Partners law firm on the seller’s side and COBALT law firm on the buyer’s side.