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Transactions - DECEMBER 2, 2019

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East Capital to pay dividend following close of €200m investment program

by Kali Persall

East Capital Real Estate said it plans to pay a special dividend through its East Capital Baltic Property Fund III, following the completion of its €200 million ($220 million) investment program.

The fund’s board has recommended regular dividend payments of 3 percent twice a year, supplemented by a one-off payment equivalent to a 4.5 percent return on the capital committed by investors to the fund established in 2015.

“The performance of the portfolio and our asset management initiatives have enabled the fund to generate a surplus beyond what is needed to sustain dividends and repay loans,” said Madis Raidma, CEO of East Capital Real Estate, in a statement. “Now that the fund’s equity is fully deployed, the board and management team want investors to start receiving the rewards from the dynamic Baltic market, where strong economic fundamentals have translated into very attractive returns.”

The announcement follows East Capital’s recent purchase o

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