THE STREET · 2026-11-12 19:19 UTC

IKEA is buying Latvian forest, and 3Pine Capital wants crypto investors in too

In October 2025, Ingka Investments, IKEA's investment arm, agreed to buy about 153,000 hectares of Latvian and Estonian land from Södra for €720 million. 3Pine Capital, led by CEO Lauris Borodovskis, launched a €7.156 million issue of secured tokenized notes backed by Latvian forestry assets in November. Borodovskis says returns come from timber harvesting and land detachment, and that buying from small private owners lets 3Pine pay 25% to 40% below market value.

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