Kapitel supplemented its portfolio of undeveloped land plots

02.06.2021

Kapitel, which expanded into the logistics and industrial real estate business this year, acquired four land plots with a total area of 60,000 m2 in the former Gate Tallinn development area, in Laagri next to Tallinn-Pärnu highway. Valid detail planning allows development of logistics and industrial real estate with gross area of up to 26,000 m2 and maximum height of 18 metres.

“The logistics and industrial real estate sector is currently thriving, and we see great potential in applying our long-term experience in commercial real estate development and management in this sector. The foundation for a successful development project is excellent location; as a result, we acquired four land plots in the former Gate Tallinn development area, in Laagri next to Tallinn-Pärnu highway, where we aim to develop built-to-suit logistics or industrial real estate for our customers,” said Rait Pallo, Member of the Management Board of Kapitel.

Kapitel’s portfolio includes two logistics centres in Rae Rural Municipality at the address Rukki tee 1 and Rukki tee 5. The anchor tenant of the logistics centres with 59 000 m2 of leasable space is Smarten Logistics. The company’s real estate portfolio now includes five land plots with a detailed plan suitable for development of logistics and industrial real estate: Pähklimäe tee 13, along the Tallinn ring road, in Rae Rural Municipality; and Saue tee 15, Saue tee 17, Saue tee 19, and Kaupmehe tn 10, in Laagri next to Tallinn-Pärnu highway.

Kapitel (www.kapitel.ee) is among the largest real estate companies in the Baltics, developing and managing shopping centres, hotels, office buildings and logistics centres. The group’s portfolio includes 244,000 sq m of rental premises. The company owns four office buildings (Delta Plaza and Sõpruse Ärimaja in Tallinn, Narbuto 5 in Vilnius and I.P.Pavlova 5 in Prague) and has holdings in four shopping centres (Spice and Spice Home in Riga, Panorama in Vilnius and Viru Keskus in Tallinn) and two logistics centres in Rae rural municipality (Rukki tee 1 and Rukki tee 5). The company owns Nordic Hotel Forum (operated by Nordic Hotels OÜ) and, with Infortar AS, co-owns Tallink City Hotel, operated by Tallink Hotels.