Baltic Horizon Fund Is Launching Property Management Tender in The Baltics
Baltic Horizon Fund has launched a tender for property management and accounting services. During the competition, the fund seeks to select partners to provide maintenance, marketing, rental, commercial management and accounting services for real estate owned by the Baltic Horizon Fund in all three Baltic States.
The international competition is announced in accordance with the fund’s operating rules, according to which the property manager or managers are selected every three years. The fund intends to announce the winner and the future service provider or providers in May this year.
“The regular tender of property management is important for the fund, as the professionalism of the partners and the quality of the services provided are directly related to the performance of the entire fund. Therefore, when choosing a service provider, we will pay special attention not only to their professional experience and competence but also on the knowledge of ESG topics. We operate sustainably and are guided by the principles of environmental, social and governance transparency, so a partnership based on the same values remains our goal” notes Tarmo Karotam, fund manager.
The fund’s asset portfolio consists of 15 commercial real estate properties, including business centers Duetto, North Star, Domus PRO retail park, Europa shopping center, Galerija Centrs, Postimaja and others. All these objects are built in the capitals of the Baltic States: five in Tallinn, Riga and Vilnius, their area is more than 153 thousand square meters. The total value of the fund’s asset portfolio exceeds EUR 355 million.
Baltic Horizon Fund currently receives property management and accounting services from several companies. The main partner is BPT Real Estate.
Baltic Horizon Fund is a registered contractual public closed-end real estate fund managed by the alternative management company Northern Horizon Capital AS. The fund is listed on the Nasdaq Tallinn and Nasdaq Stockholm stock exchanges.