Lumi Retail Property Fund

Overview

The Lumi Retail Property Fund, managed by Nuve Partners, specializes in investing in grocery-anchored retail properties across Estonia, Latvia, and Lithuania. Established in 2017, the fund has built a portfolio of 22 properties with a total asset value of €71 million. Notably, 72% of these assets are located in the capital cities of Tallinn and Riga, indicating a strategic focus on urban retail centers. Major tenants include Rimi, Selver, Maxima, and MyFitness, reflecting the fund's emphasis on partnering with established retail brands. The fund's investment strategy centers on acquiring properties with strong foot traffic and stable income streams. By focusing on grocery-anchored retail centers, the fund aims to provide essential services to local communities while ensuring consistent returns for its investors. The portfolio's diversification across the Baltic States allows the fund to mitigate regional risks and capitalize on varying market dynamics within the region. Since its inception, the Lumi Retail Property Fund has demonstrated a commitment to expanding its footprint in the Baltic retail sector. In August 2025, the fund acquired a Maxima X grocery store property in Kuressaare, Estonia, marking its first acquisition in the country in over three years. This acquisition underscores the fund's strategy of targeting vibrant, well-rooted retail locations that cater to both local residents and tourists. The fund remains open to new investors and continues to seek opportunities to enhance its portfolio in the Baltic region.

Investment Focus

• Open to new investors

Portfolio Companies