Northern European fund and asset manager BPT Group has completed the sale of an office, an industrial facility and three retail units in the Baltics to an investor represented by the Estonian investment company Capital Mill.
Northern European fund and asset manager BPT Group has completed the sale of an office, an industrial facility and three retail units in the Baltics to an investor represented by the Estonian investment company Capital Mill.
The parties agreed not to disclose the financial details of the transaction.
The divested properties are two Rimi supermarkets in Vilnius, a 2,000 m2 office building in Vilnius' Sevèenkos str, the Barona Centrs in Riga and an industrial building in Tallinn's Korgepinge str.
This disposal is in line with the BPT Optima fund's deleveraging phase. 'Together with our sister funds we have traded (bought or sold) 20 individual commercial properties in the three Baltic countries during 2013. Returning liquidity is a positive factor approaching the planned full exit of BPT Optima within the timeframe of the next two years,' said Antanas Anskaitis, the fund manager of BPT Optima.
BPT manages seven real estate funds and two separate accounts, totaling more than €1 bn in assets under management.
