Estonian fund buys Domina shopping mall

EfTEN Kinnisvarafond II AS and KanAm Grund Kapitalverwaltungsgesellschaft mbH on Monday announced that EfTEN has bought the Domina Shopping Center in Riga from previous owners KanAm.

“It was hard work for the last six months. We are proud to have a such large scale, true landmark shopping centre addition to our portfolio,” said Viljar Arakas, CEO of EfTEN Capital AS in a statement.

The deal worth €74.5 million for Domina is the largest single investment in EfTEN's history and its eighth acquisition in Latvia. The transaction was financed by Nordea bank.

With more than 120 thousand m2, the Domina mall is the second largest in Riga and has more than 160 stores focusing on premium fashion, featuring international brands such as Benetton, Marks & Spencer, H&M, Tommy Hilfiger and Guess.

At the same time RIMI Baltic has said it is ready to open a new store at Domina. “This will be a great addition to chain of our supermarkets,” said Didzis Kirstuks, Real Estate and Expansion Director of ‎Rimi Baltic.

EfTEN Real Estate Fund II AS is closed-end core real estate fund established in 2015, managed by EfTEN Capital AS, which was established in 2008 and has an alternative fund management licence issued by Estonian Financial Supervision Authority.

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