BPT fund buys Country Park business centre in Moscow

Baltic Property Trust (BPT) has secured its third real estate transaction in Russia with the acquisition of the Country Park business centre in Moscow for an undisclosed amount. The centre was built in 2004 as phase one of the Country Park project. It will be added to BPT's Russia-focused fund, BPT Arista SICAV-SIF.

Country Park is an 18-storey business centre with a gross area of 19,530 m². Major tenants include SC Johnson, Yokohama, Nokian Tyres, Nutricia and others. The property also hosts the Russian headquarters of the BMW Group and Volvo.

BPT said the fund also has an option to acquire the second phase of Country Park, a seven-storey office and residential building which would add another 11,400 m² to the fund's portfolio. The builder, Expertnaya Strakhovaya Otsenka, is also planning the development of a third phase, consisting of a hotel. Country Park is situated in the district of Khimki, a rapidly developing business and residential area in Moscow. The business centre is managed by the developer and former owner.

'This acquisition has significant importance for the fund and is in line with our strategy of investing in high-quality real estate projects, which bring in stable income and provide for high dividends to our investors. To that extent, Country Park has exactly the kind of uniqueness and quality we are looking for,' said general director of BPT Asset Management Russia, Pavel Cherepanov.