Nuve Partners acquired Møller car dealership portfolio
Nuve Partners together with private investors acquired a portfolio of Møller car dealerships and service points in Tallinn, Pärnu and Jõhvi. All three buildings are modern, in good technical condition and built to the high corporate standards of Volkswagen and Škoda. Møller is the main importer and distributor of said car brands in the Baltic States.
“Despite the fact that the Covid crisis has affected car sales companies across Europe, we see that Møller is a strong and stable tenant,” confirms Lauri Henno, partner at Nuve Partners, and adds that leases in all three dealerships have been secured for a long time.
In addition to good technical condition, the buildings are easily accessible and visitor numbers remain high. Especially in the Tallinn dealership, which is located in the immediate vicinity of Telia and Pipedrive headquarters in the Paldiski Road developments.
“Our portfolio is constantly growing and we are pleased to note that we have the capacity to approach investment opportunities openly and comprehensively,” says Henno. “Last year we opened a new logistics business line, successfully continued our neighborhood shopping centre strategy as well as entered the Latvian and Lithuanian market with a landmark rental apartment transaction. And now, for the first time, we’ve updated our portfolio with car sales and service real estate,” explains Henno.
The transaction was mediated by Margus Tinno, partner at Colliers International Advisors OÜ and the legal partner was Eversheds Sutherland Ots & Co.
About Møller Mobility Group
Møller Mobility Group is one of the leading car companies in Northern Europe. They import, sell and service four car brands – Audi, Škoda, Volkswagen and Seat. The Group operates in Norway, Sweden, Estonia, Latvia and Lithuania and has 4,200 employees.
