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Baltic Horizon and Europa Business Centre renewed the Europa parking house co-ownership agreement

Baltic Horizon and Europa Business Centre renewed the Europa parking house co-ownership agreement

The owner of Europa shopping centre in Vilnius, Baltic Horizon real estate fund has renewed a co-ownership agreement with Hanner, the owner of Europa Business Centre to co-manage its mutual parking house. The agreement was renewed with an aim to significantly improve the current parking arrangement for both the visitors and employees of Europa centres.

This signifies a positive change in the relations of the neighbours. Along with the co-management agreement the neighbours signed an agreement to terminate all historic disputes and court cases in regards to the parking house. In addition, a parking house operating agreement was signed with a professional operator ADC who is requested to install a new parking system to the parking house thereby offering modern and convenient parking services to all visitors.

„I am very pleased to reach a new level of co-operation regarding the parking house with our neighbour Hanner and are glad that the old disputes dating back several years have now been fully resolved” stated Tarmo Karotam, fund manager of Baltic Horizon Fund. “The modernized parking house shall feature state of the art electronic parking system for better organization, cameras for increased safety and a convenient new payment system which includes the mobile payment option, “added Tarmo Karotam.

Baltic Opportunity Fund acquired the Europa shopping mall in Vilnius in March 2015. Baltic Horizon Fund was merged with Baltic Opportunity Fund on June 30, 2016 following a successful capital raising.

Baltic Horizon Fund is a registered public closed-end real estate fund and Baltic Horizon units began trading on the Nasdaq Baltic Fund list of July 6, 2016. The ticker is NHCBHFFT.

The fund is managed by Northern Horizon Capital AS who holds Alternative Investment Fund Manager license granted by the Estonian Financial Supervision Authority.

More information:

Tarmo Karotam, Baltic Horizon fund manager

For inquiries about premises in Europa Shopping Center:

Gintare Zemaite, BPT Head of Retail Management

For inquiries about premises in Europa Business Center:

Tomas Pauliukonis, CEO, Hanner UAB

Legal advice provided by Valiunas Ellex law firm