PwC advised Titanium Baltic Real Estate on the acquisition of Wendre textile industry production complex in Pärnu
June 2023
PwC advised on the purchase transaction of Titanium Baltic Real Estate, in which the Wendre textile industry production building in Pärnu was bought by the Finnish real estate fund. PwC Advisory conducted risk assessment, due diligence and financial analysis.
The transaction resulted in a sale and leaseback agreement whereby Wendre is going to rent the building until the end of 2043. Wendre previously also rented the production complex from the previous owner Trading House Eesti AS.
The project manager of the transaction at PwC was Raul Ruubel, the advisors were Lisette Starostin and Andrea Pärtelpoeg.
Titanium Baltic Real Estate is a Finnish open ended mutual investment fund. The fund owns several well-known large real estate objects in the Baltic countries, for example Kesko-Senukai (K-Rauta) stores in Vilnius and Daugavpils, Ozols shopping center in Riga, Viimsi Market building in Harjumaa, and others.
Additional information (in Estonian) in the business newspaper Äripäev.
