Northern Horizon Capital AS (the Management Company) as the management company of Baltic Horizon Fund (the Fund) announces acquisition of Piirita shopping centre. Signing and closing of the share purchase agreement by BH MT24 OÜ to acquire shares of OÜ Pirita Center from Matching Holding OÜ took place today, on the 16th of December. OÜ Pirita Center is the sole owner of Piirita shopping centre.
Net leasable area of the Piirita shopping centre is over 5000 m². The property has Rimi and MyFitness as anchor tenants. The purchase price under the agreement was 12,2 mln EUR. Acquisition yield is approximately 7,4%. The acquisition is financed by the capital raised in the course of the secondary public offering of the Fund.
Piirita shopping centre was reconstructed in 2016 by Messiehitus OÜ.
Baltic Horizon Fund is a registered public closed-end real estate fund and Baltic Horizon units began trading on the Nasdaq Baltic Fund list of July 6, 2016. The company’s stock symbol (ticker) is NHCBHFFT, after listing on NASDAQ Stockholm the Fund will receive a ticker of NHCBHFFS.
The fund is managed by Northern Horizon Capital AS under an Alternative Investment Fund Manager license granted by the Estonian Financial Supervision Authority.
Distribution: Nasdaq, GlobeNewswire
This announcement contains information that the Management Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 11.22 EET on 16 December 2016.