Re Fund I invests directly and through its subsidiaries exclusively in medium and higher-risk real estate assets in the Baltic States, such as the leading automatic tunnel washing plants.

Re Fund I currently owns 9 car wash facilities and has signed agreements to acquire a further 6 car wash facilities in Lithuania and Latvia in various stages of development by the end of 2025.

The fund invests in a geographically diversified portfolio of car washes, where the operator is a leader in car washing in the Baltic States and one of the most modern and fastest growing express car wash chains in Europe, says fund manager Laurynas Byla.

“We carefully select properties that do not correlate with other asset classes and have higher yields than other commercial properties, and only acquire developed properties for stability. The leases are non-cancellable, lasts for 30-50 years, and the rental income is indexed annually. The fund’s goal is to have a portfolio of 20-25 properties of this type in the Baltic States for sale by the end of its operations, which will be attractive to a wide range of foreign investors. The portfolio’s value will exceed EUR 100 million,” says L. Byla.