Baltic Property Trust's BPT Optima fund announced on Tuesday that it had successfully concluded negotiations to acquire the 3,800 m[sup]2[/sup] Dominanta Praska building in Warsaw for an undisclosed sum.
Baltic Property Trust's BPT Optima fund announced on Tuesday that it had successfully concluded negotiations to acquire the 3,800 m2 Dominanta Praska building in Warsaw for an undisclosed sum.
'The Dominanta property is expected to generate an initial yield at a level of 7.5% with strong possibilities for growth mainly due to its significant potential for improvement and development, making it a great fit into the BPT Optima portfolio,' said BPT country director Tomasz Tromer.
Dominanta Praska is the third building in Warsaw acquired by the fund.
BPT Optima is a Luxembourg-based closed ended real estate fund created in 2005 that focuses on acquiring office and retail assets. Baltic Property Trust (BPT), established in 2001, says it is the largest institutional investor in commercial real estate in the Baltic Sea region with a total investment capacity in excess of EUR 1bn.
