An investor club composed mainly of Estonian investors has acquired 100% of shares in EfTEN Domina SIA, the company that owns Domina Shopping Center in Riga, from EfTEN Kinnisvarafond II AS. Following the transaction, a Latvian subsidiary of EfTEN Capital AS will continue to manage the centre. The financial terms were not disclosed.
The investor club includes Anders Anderson, Toonart Rääsk, Ivar Vendelin, Raul Kirjanen, Jüri Külvik, Toomas Keridon and Kristjan Petjärv. From EfTEN Capital's management, Viljar Arakas, Tõnu Uustalu and Viktors Savins, Country Manager of EfTEN Latvia, also participate as investors. Retail investors will gain exposure to further cash flows from Domina through the listed company EfTEN United Property Fund. The core of the club largely overlaps with the group that jointly acquired Tallinn's Kristiine Center in December 2024, and the shareholders of EfTEN Kinnisvarafond II AS approved the current transaction at the annual general meeting in spring 2026.
"It is a pleasure to see that once again, mostly Estonian investors have joined forces for acquiring a large-scale property. Club deals are a recent trend in larger commercial property transactions. In the European context, the Baltic States are again an attractive region for investments because of the returns 200–300 basis points higher than, for example, in the Visegrad countries," said Viljar Arakas, Chairman of the Management Board of EfTEN Capital AS.
Domina Shopping Center offers approximately 42,000 sqm of leasable space, 2,000 parking spaces and 170 tenants. A leisure area featuring a cinema and a children's playground was completed in 2023. Among the centre's tenants are Maxima, JYSK, Peek & Cloppenburg, H&M, Sportland, Lido, Apollo Cinema, SkyPark and MyFitness. The property has been part of EfTEN Kinnisvarafond II's portfolio since 2016.
