Fund structures
BPT investments are structured as either limited liability
companies (Danish-based), SICAR or SICAV-SIF funds
(Luxembourg-based) or REIFs (Estonian-based).
Each fund is an independent legal entity with its own
Board of Directors.
Limited liability companies
(A/S)
Funds based in Denmark are structured as
limited liability companies (A/S). BPT Nordic Real Estate is an
independent Danish mutual fund with special license to use the BPT
name.
SICAR and SICAV-SIF
funds
Several of the BPT funds are structured as
either SICAR funds or SICAV-SIF funds under Luxembourg law. As such
they are regulated investment funds with a collective investment
approach to investor funds applying the principle of risk
diversification.
Either fund vehicle is restricted to well-informed
investors and is designed to offer an investor friendly and tax
efficient investment opportunity.
REIFs
Funds based in Estonia are structured as contractual real
estate funds under the supervision of the Estonian Financial
Supervisory Authority. The funds themselves are not legal entities,
therefore BPT as the FSA licensed management company holds and
manages the assets of the fund on account of all the unitholders
collectively.
Property
assets
Acquired properties are typically
held by a local sub-holding company or national subsidiary to
allow for easy divestments. Where possible, properties are placed
in single purpose vehicles held either by the sub-holding. No
properties are held directly by the funds.
