Lumi Retail Property Fund has successfully acquired a portfolio of 11 Rimi grocery stores across Latvia. This increases the total number of retail properties owned by the fund to 21.
The newly acquired properties are characterized by their convenient locations and long-term lease agreements. Situated largely in regional towns, the stores are comfortably located for customers, ensuring ease of access and serving as essential daily shopping destinations for local communities. These high-traffic locations benefit from steady footfall, making them ideally sustainable for retail real estate investment.
Lauri Henno, Fund Manager at LRP Fund, sees improved opportunities on the Baltic property investment market.
“After two years of subdued activity due to the interest rate environment, we are observing more appealing opportunities across all three Baltic States,” he said. “This acquisition highlights the resilience of the grocery-anchored retail segment, which continues to offer strong risk-adjusted returns. We anticipate further acquisitions in 2025 as the market continues to recover.”
About LRP Fund
LRP Fund is a pan-Baltic investment fund that was established in 2017 and is managed by Nuve Partners. It specializes in grocery-anchored retail real estate and focuses on acquiring income-generating assets in strategic locations, thus ensuring sustainable returns for its investors. With a growing portfolio across Latvia and Estonia, and soon also in Lithuania.
After the transaction approximately 65% of the assets of the pan-Baltic fund are now concentrated in Latvia; the remainder is in Estonia.