RBM Group buys Commercial Property in Tukums

R.B. Management Group (RBM) announced the acquisition by its retail property concern SIA Apex Investments (Apex) of a commercial property in Tukums, Latvia.  The subject of the purchase is a newly built 3,300 m² property fully let to DIY retailer “K-Rauta”, owned by Rautakesko of Finland.  The seller was advised by SIA Veduta.  RBM represented Apex in the transaction.

-          Commenting on the purchase, Jerry Wirth, partner of RBM, said “We are happy to see another asset under the Apex umbrella, and feel confident of the cash flow we have added to our portfolio even amidst the difficulties of the current market.  It was a pleasure working with Veduta, and we are particularly pleased to have acquired an asset with a tenant of the quality of K-Rauta.”

-           “It was enjoyable working with RBM, with a feeling of competence and organization during the deal.  In light of this, there was little time wasted in completing the transaction.” says Guntars Cauna, broker in the deal from SIA Veduta.

With the new acquisition, Apex Investments owns nine supermarkets, DIY and shopping centres in Latvia, and expects to close on the tenth in Q1, 2008.  Its investments focus on well located assets with quality anchor tenants including Rimi Baltic and SuperNetto.  It has a subordinated debenture listed on the Riga Stock Exchange.  Facilities management services for all of its properties are provided by R.B. Management SIA.

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For further information, please contact:

Apex: Matt Mežinskis

Telephone: +371 67333504

E-mail: matt@rbm.lv

About R.B. Management Group:

The RBM Group is a closely held real estate investment and development concern that has been investing in Baltic real estate since 1995. During this time, RBM has acquired a wealth of experience in acquisitions, sale leasebacks, structured finance and development. With a dedicated and professional staff, RBM has grown their business from a single asset into a diversified portfolio including supermarkets, DIY, office buildings, leisure properties, and logistics developments. Their major tenants include Rimi Latvia, Supernetto, K Rauta, Ernst & Young, IF, Olympic Casinos, TNS, and L’Oreal. In addition, RBM provides facilities management services to group companies, and to outside clients.