Rimi Baltic sells Deglava logistics center and office in Riga to East Capital Real Estate Fund IV
Rimi Baltic has sold it’s central logistics and office facilities in Riga to East Capital Real Estate Fund IV through a sale and leaseback transaction under a 15-year lease agreement. The property area amounts to 94,000 square meters.−We are pleased about the transaction and look forward to a good long-term cooperation with East Capital Group. Importantly, the transaction also frees up capital to reduce the net debt for ICA Gruppen, the owner of Rimi Baltic, says Giedrius Bandzevičius, CEO Rimi Baltic. The net effect of the transaction on the ICA Group’s cash flow amounts to