BPT Sells Estonian Retail Asset
BPT Asset Management, on behalf of the BPT Secura real estate investment fund, has sold a retail centre in Tallinn, Estonia, to Selver, the property’s anchor tenant. Terms of the transaction were not disclosed.
The Marimetsa Selver is a neighbourhood shopping centre comprising 5,131 square metres of retail space. BPT Secura had acquired the property in 2004 from Kaubamaja Group.
“While the Baltic markets may not be very large on an international scale, the level of market activity we've seen in the past one to two years shows that the markets are capable of performing despite their size and can deliver attractive entry as well as exit opportunities for investors,” says Indrek Hääl, head of group asset management at BPT.