BaltCap buys property manager

BaltCap acquired the company from Northern Horizon Capital. BPT Real Estate has the team of 80 professionals and manages more than 150 properties with a total area amounting to 1 mln sqm and more than 1,000 tenants. The majority of the properties managed by BPT Real Estate are located in the Baltic States.

“The real estate market in the Baltic States is becoming similar to those of developed countries, where an increasing role is played by institutional investors. For this reason independent property management and real estate advisory services are in greater demand than ever before,” said Šarūnas Alekna, BaltCap’s investment director.

”The sale of BPT Real Estate is the logical conclusion of the last couple of years’ gradual process of establishing and empowering BPT Real Estate as a property management company independent of Northern Horizon’s core investment management business. The divestment allows Northern Horizon to fully focus on its growing core investment management business. In that segment we see many interesting opportunities to offer our investor clients new investment products – not just in the Nordics and Germany, but also in the Baltics, where BPT Real Estate’s activities are focused. Furthermore, Northern Horizon will continue to maintain and expand its own presence in the Baltics through our in-house investment management, fund administration and corporate services teams there,” explained Michael Schönach, Northern Horizon Capital’s CEO.

“After full separation of BPT Real Estate from Northern Horizon Capital group we will continue offering property management services to all Northern Horizon Capital funds in Baltics and Poland,” said Indrek Hääl, BPT Real Estate Group CEO.

Sorainen acted as BaltCap’s legal advisor during the negotiations.

Northern Horizon Capital is a real estate asset investment management firm with activities in the Baltics, Poland, Russia, the Nordic countries and Germany. Northern Horizon focuses on offering its institutional investor base specialised strategies in emerging real asset subsectors such as carehomes, farmland, as well as selected commercial real estate strategies.