Nordic asset manager Northern Horizon has purchased the Postimaja shopping centre in Tallinn, Estonia for €34.4 mln from Osaühing Letona Properties for its Baltic Horizon fund.
The deal includes the property located at Narva Road 1, Tallinn, Estonia together with the Postimaja Shopping Centre.
According to local media, the fund was motivated to secure the shopping centre as it lies next to the Coca Cola Plaza property which it already owns. Plans are in place to increase the shopping centre's leasable area.
The deal was subject to merger clearance from the Estonian Competition Authority, which was secured at the beginning of the month.
