By way of a transaction, a new investment vehicle established by Partners Group and its operating partner Northern Horizon Capital has agreed to buy a portfolio comprising the majority of the assets of BPT Optima, an institutional real estate investment vehicle.
The acquired portfolio includes seven well-known office and retail properties in Tallinn, Riga, Vilnius, Kaunas and Klaipeda, totalling around 112,000 sqm of lettable space, as well as the large Young City urban regeneration site on the Gdansk waterfront, including the historical former shipyards. The transaction marks the largest real estate investment into the Baltics in the post-crisis period. Northern Horizon and its property management arm will manage the portfolio.
“The acquired portfolio combines high-quality cash flow generating assets with significant further value enhancement potential and we look forward to working together with Northern Horizon to extract that value. This acquisition follows our investment strategy of buying the tail of maturing quality real estate portfolios in markets with strong fundamentals,” said Fabian Neuenschwander, private real estate professional at Partners Group.
“We are delighted to welcome Partners Group as an active investor into the Baltics, and believe this transaction affirms the increasing international investor interest in the Baltic and Polish real estate markets, which are supported by the healthiest economic fundamentals in all of Europe,” added Michael Schönach, Group CEO of Northern Horizon Capital.