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BPT Baltic Opportunity Fund has acquired the building of Coca-Cola Plaza in Tallinn from Finnkino OY, operator of movie theaters in Finland and the Baltic countries.
BPT Baltic Opportunity Fund buys Coca-Cola Plaza
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In the purchase and leaseback transaction Baltic Opportunity Fund, the newest fund of BPT, acquired the third item into its portfolio, the company said.
The fund has its focus on centrally located properties in the Baltic capitals having a strong anchor tenant, fund manager Tarmo Karotam said in a press release. He said that since in addition to a stable cash flow also maximal liquidity of investment assets was important for the fund's investors, the fund continued to be on the lookout for office and commercal buildings with a strong concept in Tallinn, Riga and Vilnius.
BPT Baltic Opportunity Fund owns also the Lincona office complex in Parnu Road, Tallinn, and the SKY shopping center in Riga.
With 9,930 square meters of commercial floor area, Coca-Cola Plaza, built in 2001, is the largest movie theater complex in Estonia. Finnkino OY will go on operating the multiplex there under a long-term lease agreement.