Capitalica Green Logistics Fund raises EUR 17 million in its first year of operation

The Capitalica Green Logistics Fund by SBA Group’s investment management company Capitalica Asset Management raised EUR 17 million from private investors in 2021 and actively negotiated new acquisitions in the Baltic States. The Fund’s total assets amounted to EUR 23 million at the beginning of this year, according to the company’s press release.

“As we have expanded our financial opportunities, we are also expanding the selection of logistics assets to be acquired. The Fund’s fundraising confirms investors’ confidence in the Fund’s strategy. With e-commerce gaining market share, logistics facilities have been in high demand in the Baltic region over the past year, especially environmentally friendly logistics centres. In less than a year, we have evaluated almost half a dozen facilities and are now targeting several potential sites in all three Baltic States,” says Andrius Barštys, CEO of Capitalica Asset Management.

Part of the funds raised last year were used for the first purchase – a logistics centre in Tallinn. This year, it is planned to be certified under the BREEAM sustainability rating system. According to Andrius Barštys, the investment period of the Fund is four years. Given the market situation, it is expected that the plan to manage EUR 150 million in assets during this period will be achieved.

The brokerage firm Orion Securities helped Capitalica attract almost half of the investment (EUR 8 million) for the Green Logistics Fund.

“The pandemic period has shown that the value of sustainable assets is more resilient to economic shocks. This is the first Fund of its kind in the Baltics to focus exclusively on logistics centres. Still, we see that it has started at the most optimal time, and the active involvement of investors only confirms this,” says Karolis Pikūnas, Head of Investment Banking at Orion Securities.

Capitalica Green Logistics Fund invests in already built and cash flow generating logistics centres located near major cities and main transport routes across the Baltic region. The Fund’s strategy focuses on green aspects and the potential to implement them.

The Fund’s first purchase is an 11,600 square metre sustainable logistics complex in the Tallinn suburb of Juri, with a 2.4 ha plot of land. The area is home to the Estonian capital’s largest and most developed logistics and warehousing area. About 40% of Tallinn’s logistics companies and industrial buildings are concentrated here. The area’s attractiveness for logistics buildings is also enhanced by the planned construction of the Rail Baltica railway line through the municipality.

“Capitalica Green Logistics Fund is a collective investment undertaking for informed investors in the form of a closed-end investment fund. Capitalica Asset Management manages the Fund on a trust basis. The Fund’s assets are expected to reach EUR 150 million.

Capitalica Asset Management, an SBA Group company active in the management of the commercial real estate in the Baltic States, controls the investment company Capitalica Baltic Real Estate Fund I. The company manages the 135 business centres in Vilnius, the Kauno Dokas business centre in Kaunas, the Luizė shopping centre in Klaipėda and the Verde business centre in Riga.

The controlling stake in Capitalica Asset Management, which was acquired in 2016 (70%), is held by SBA, one of the largest Lithuanian business groups, and 30% is owned by A. Baršys’s company Fox Holdings.