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A fund operated by French investment company Corum Asset Management is buying a store in Vilnius from the owner of Latvia's DIY store chain Depo, real estate services company Colliers International, which acted as a transaction intermediary, announced on Friday.
French Corum fund buys DIY store in Vilnius
© DELFI / Karolina Pansevič

"This transaction will allow our client Depo to move forward with its development strategy. As a local player, the chain is fully capable of professionally meeting an international investor's needs both in terms of real estate quality and also the transaction's management process. This example perfectly shows the Baltic market's growing professionalism as well as the market's possibilities to attract additional foreign capital," Angela Kolesnikova, a partner at Colliers International Advisors, said in a statement.

As part of the transaction, the Corum Origin fund is buying the 15,800 square meter store in Ukmerge Street in Vilnius, built in 2018, for an undisclosed value and the Depo chain will continue renting the premises.

The store was opened in late 2018, and, based on BNS Lithuania's information, Depo invested some 15 million euros, excluding VAT, into it.

It is Corum Asset Management's first investment in Lithuania. It's Corum Origin fund now owns a production building near Tallinn, a Prisma store in Narva and an office building in Riga.

BNS
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