7 ASSETS IN THE BALTIC HORIZON PORTFOLIO AWARDED BREEAM IN-USE CERTIFICATE
Baltic Horizon Fund is proud to announce that 7 buildings in its portfolio have achieved BREEAM In-Use certification. With these certifications, all completed office buildings in the portfolio have received BREEAM certification.
6 of the buildings have achieved BREEAM In-Use certification with a ‘Very good’ rating. These office buildings are Upmalas, Vainodes and LNK in Riga, Domus PRO SC and North Star in Vilnius. P80 in Tallinn that Baltic Horizon announced the sale of on 8 November also achieved a ‘Very good’ rating. The last building – Lincona in Tallinn – has received a ‘Good’ rating.
Baltic Horizon acknowledges the environmental impact of its assets. In line with the commitment to continuously improve the environmental performance of the buildings, it has been a key ESG priority for Baltic Horizon Fund to get the portfolio of office buildings certified with the internationally recognized BREEAM standards.
“We firmly believe that making the right environmental decisions leads to improved health and wellbeing for our tenants and better investment outcomes for our stakeholders. Achieving the BREEAM certifications has been a top priority for the Fund this year. We are delighted that we have reached this milestone and that after years in operation our buildings are compliant with the strict BREEAM standards,” commented Tarmo Karotam, Fund Manager of Baltic Horizon Fund
BREEAM certification is one of the world’s leading sustainability assessment systems for buildings, developed by the British BRE Global. The assessment, being conducted by independent licensed experts, evaluates building design solutions, quality and eco-friendliness of materials and technology used, general sustainability, comfort of premises for end users, maintenance level and other environment-friendly solutions and features.
“From an asset management perspective, the BREEAM in use certification process has given us a deeper understanding of the performance of our assets and has helped us prioritize those improvements that will benefit tenants and the environment the most,“ explained Laura Kurtinaityte, Portfolio Manager for office buildings.
Baltic Horizon Fund’s 7 buildings were certified by Vesta Consulting, a leading Real Estate Sustainability and engineering consultancy company in Baltics.
“BREEAM certification is gaining more and more business attention for several reasons: more companies are developing sustainability strategies and looking to operate in sustainable, environmentally friendly buildings. Moreover, it helps to ensure wellbeing for their employees and achieve better results. We sincerely welcome Baltic Horizon Fund to join BREEAM certified community,” said Evaldas Savickis, CEO of Vesta Consulting.
With these certifications, all completed Baltic Horizon Fund’s office buildings in the portfolio have received BREEAM certification. The Meraki Business Center – a two tower-office building under development in Vilnius – is expected to receive BREEAM Excellent New Construction certification when completed in 2022 following the pattern of Duetto A (2017) and Duetto B (2020) in Vilnius and Domus Pro BC (2018) in Vilnius.
About Baltic Horizon Fund
Baltic Horizon Fund is a regulated, evergreen real estate investment fund registered in Estonia, managed by Northern Horizon Capital AS. It is traded on Nasdaq Tallinn and Nasdaq Stockholm stock exchanges. The Fund currently manages EUR 347 million worth of assets across three Baltic capitals, targeting quarterly distributions of 80% of generated net cash flow. Baltic Horizon’s long-term strategy is to become a leading Baltic property owner, investing in properties in strong urban locations with solid tenants and stable cash flows, creating a well-diversified, income-producing portfolio.
For more information:
Tarmo Karotam, Fund Manager, Baltic Horizon Fund
Phone: +372 508 9044
Laura Kurtinaityte, Portfolio Manager, Baltic Horizon Fund
Phone: +370 616 01575