BPT Optima
CLOSED FOR NEW SUBSCRIPTIONS
BPT Optima is a direct real estate fund investing in
commercial properties in Estonia, Latvia, Lithuania and Poland. The
fund is fully invested and has a property portfolio of
approximately 240,000 sq. m. (exclucing the Young City
project).
BPT Optima is a long-term real estate investment vehicle. The
fund was created with an equity base of EUR 200 million equal
to a total investment capacity of EUR 667 million and a
target RoE of 7-10% per annum excluding capital
gains.
BPT Optima had its final closing in January 2008.
The Fund was restructured in 2010 to EUR 41 million in equity
and additional capital of EUR 20 million was raised bringing the
new total equity base to EUR 61 million.
Investment strategy
The focus of BPT Optima is on prime commercial
properties primarily within the retail segment, but with office and
logistics as secondary investment targets. The fund invests solely
in the three Baltic countries and Poland.
BPT Optima is focused on a "value added" strategy of
acquisition, development and refurbishment of commercial properties
(or portfolios of commercial properties) that are strategically
well-located in the selected regions. The fund seeks to attract
leading international and local tenants and to secure leaseholds of
at least 5-10 years.
The underlying fundamental is to utilize the steady yield
compression (capital growth) in the selected real estate
markets. As yields converge towards Western European levels,
the market is expected to show capital gains.
Structure
BPT Optima is registered in Luxembourg as a SICAR
fund.
In summary
-
Investment focus on the Baltic
countries and Poland
-
Segment focus on retail with office
and logistics as secondary targets
-
Attractive yields and the potential
for capital gains through yield convergence towards Western
Europe
-
Highly selective approach to real
estate
-
Local organisation with extensive
real estate asset management experience and network
