Over One-Third of 2022 Investments Were in Industrial Real Estate
More than one-third of investment activity in 2022 was directed toward the industrial real estate segment. In Q1, the development company Restate sold a stock-office building in Lasnamäe for over €10 million. In Q2, a logistics complex comprising two new buildings in the outskirts of Tallinn changed hands in a deal valued at more than €12 million. In Q3, a production facility in Pärnu was sold in one of the year’s largest transactions, exceeding €30 million.
In contrast, the largest transactions of 2021 were concentrated in the retail sector. That year, the T1 Mall, Stockmann department store, and Mustamäe Centre all changed owners, with the combined transaction volume surpassing €135 million—making them the top three commercial real estate deals of 2021.
In Q1 of 2022, a development company divested a retail-focused portfolio consisting of stock-office properties and grocery stores in four locations across Estonia. Additionally, a shopping center in Kohtla-Järve was sold for over €15 million.
In the office segment, the major deals in H1 2022 included a €6.5 million sale of an office building in Kristiine, a €9.7 million transaction in the city center, and a €7.5 million sale in North Tallinn. The sector’s largest deal occurred in Q3, when an office property in Central Tallinn was sold for approximately €40 million.
H1 2022 also saw transactions in alternative real estate, including the sale of a 6,600 m² hotel in a well-known resort town for more than €12 million.
Explore the Top 15 transactions of 2022 here: https://top15.uusmaa.ee/
