Finland's film distributor and cinema chain Finnkino has sold and leased back the Coca-Cola Plaza in Tallinn, Estonia, for an undisclosed amount.
Finland's film distributor and cinema chain Finnkino has sold and leased back the Coca-Cola Plaza in Tallinn, Estonia, for an undisclosed amount.
The buyer is BPT Baltic Opportunity Fund, a real estate fund recently launched by Baltic Property Trust.
Coca-Cola Plaza is the largest combined cinema and retail complex in Estonia. Built in 2001, the complex has a lettable area of 9,930 m2 and comprises 11 cinema halls with close to 2,000 seats.
Finnkino's Forum Cinemas subsidiary will continue to operate the property under a long-term lease agreement.
'It’s just few months since Catella advised Ektornet on the sale of its commercial real estate portfolio in Estonia, and similar substantial projects are under way,' commented Pauls Platais, partner at Catella in the Baltics, which advised the vendor.
This is the third acquisition for BPT's latest real estate fund, BPT Baltic Opportunity Fund.
