KYIV. Oct 6 (Interfax-Ukraine) – Dragon Capital Investments Limited (Cyprus), part of Dragon Capital, has finalized deals to acquire stakes in East Gate Logistic LLC (Boryspil) and West Gate Logistic LLC (Stoyanka, both Kyiv region) managing the eponymous logistic complexes near Kyiv.
The company’s press service reported on Thursday that the company acquired East Gate Logistic, a class A complex located in Boryspil, from Akron Investment Central Eastern Europe II B.V., and 60% of West Gate Logistic, a class A facility located in Stoyanka, from GLD Holding GmbH. The deal values were not disclosed.
“Despite high vacancy rates across the Kyiv region’s warehousing market, the level of its saturation with quality class A properties remains low. It is therefore not surprising that both East Gate and West Gate enjoy vacancies of under 8%, while the average rate across the market is 15%… We expect to further increase their occupancy in the near future and keep improving their results,” Volodymyr Tymochko, Managing Director and Head of Private Equity at Dragon Capital, said.
Built in 2007, East Gate Logistic has 49,600 square meters of total space and a leasable area of 49,100 square meters. West Gate Logistic was built in 2008 and has 97,200 square meters of total and 96,300 square meters of leasable area.
