Baltic Horizon closed Upmalas Biroji acquisition in Riga
Baltic Horizon has on 30 August closed the Upmalas Biroji deal and took ownership of the property. Baltic Horizon portfolio currently comprises of 7 properties worth more than 125 mln EUR.
Upmalas Biroji is an office building built in 2008 by the German developer Bauplan Nord. The building is anchored by SEB and CABOT on medium to long term leases and the property is fully leased out. Net leasable area is over 10,500 m2. Bauplan Nord will continue acting as a property manager for the property.
The deal adds on to a portfolio of quality cash-flow assets in Riga where the fund owns a neighborhood supermarket “SKY” on Bikernieku street. Fund’s portfolio is now well diversified with 35% allocation in Tallinn, 23% in Riga and 42% in Vilnius. Segment wise the portfolio has 43% allocation to office and 57% to retail properties of which 10% is allocated to the leisure/retail property Coca Cola Plaza in the heart of Tallinn.
Baltic Horizon units started trading on Nasdaq stock exchange on 6 July 2016. Baltic Horizon ticker is NHCBHFFT. The deal was advised by Sorainen from the buyer side and BNT law firm and Newsec from the seller side.
For more information, please contact:
Mr. Tarmo Karotam
Fund Manager of Baltic Horizon Fund
Tel: +372 5089044, firstname.lastname@example.org