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
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Investment focus on the Baltic countries and Poland
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Segment focus on retail with office and logistics as secondary targets
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Attractive yields and the potential for capital gains through yield convergence towards Western Europe
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Highly selective approach to real estate
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Local organisation with extensive real estate asset management experience and network
