Estonian fund buys building housing HQ of Latvia's airBaltic

The building at Riga International Airport housing the headquarters of Latvia's airBaltic national carrier is being sold to Estonia's EfTEN Real Estate Fund III along with a logistics center outside the Latvian capital, the Estonian fund said in a statement to the Tallinn stock exchange Monday.

The owner of the two properties, New Hanza Capital, is selling them to EfTEN for approximately 15.8 million euros. Loans from Swedbank and Luminor will finance 7.2 million euros of the price.

The airBaltic headquarters were renovated in 2016 and the airline's current lease agreement expires in 2026.

The logistics center, meanwhile, is located near the Via Baltica highway in the central Latvian municipality of Kekava. The center's main tenants are Fristads Kansas Production and Forans.

EfTEN owns more than 40 commercial properties in Estonia, Latvia and Lithuania.