Baltic Horizon Fund acquires newly reconstructed Piirita shopping centre located in Pirita, Tallinn – EuropaProperty

Northern Horizon Capital AS (the Management Company) as the management company of Baltic Horizon Fund (the Fund) has announced the 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 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 million. Acquisition yield is approximately 7,4 percent. 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.