BPT Secura A/S acquires logistics center in Tallinn, Estonia
25 October 2007
Related to
BPT Secura
On the 12th of October 2007, BPT Secura
A/S, completed its third acquisition in Estonia in 2007. The
acquisition of the Fenar Logistics property is a standard
sale-lease back transaction with a long-term lease contract.
The two newly built warehouse
properties are located right behind the Vesse Retail Center
(Tööstuspark) owned by BPT Optima in the Lasnamäe district in
Tallinn. The properties are situated about 5 km from the city
center on the Peterburi road, which is the arterial road connecting
Tallinn and Narva (the third largest city of Estonia) with St.
Petersburg, Russia.
The plot consists of two similar sized
bordering land units totaling to 10,400 m2 (5,313 & 5,087 m2).
The location next to Tööstuspark is likely to provide synergies and
economies of scale for BPT Estonia with regards to the effi ciency
of managing the buildings together in the future.
The tenant, OÜ Fenar, is a leading
player in the Estonian wholesale business and is dealing with
commodities and other popular household goods. The project risk
profi le is considered attractive also in view of the market rents
in the area, which are predicted to work in favor of the investment
project at a later stage.
"A meticulous lease contract together
with rental guarantees is expected to eff ectively safeguard the
interest of our investors" comments Estonian Country Manager Indrek
Hääl on the acquisition, and continues: "we are looking to close
other sale-lease back transactions in the near future, similar to
the Fenar project.
On one hand, these types of investments
have limited upside potential but on the other hand, they provide
our investors stable long-term cash fl ows. In addition, it is
important for us to distribute our portfolio risks by investing
into diff erent asset classes in diff erent geographical
locations."
For more information about this
release, please contact:
Investor Relations
phone +45 33 69 07 33
