Baltic Horizon Fund Finalizes Sale of Business Property in Vilnius
Baltic Horizon Fund Completes Meraki Business Home Sale
The owner of Meraki Business Home has recently concluded a significant transaction, marking a key milestone for Baltic Horizon Fund. This sale involves a well-established real estate asset located in Vilnius, indicating the Fund's strategic movements in the property market.
Details of the Transaction
BH Meraki UAB, the special purpose vehicle (SPV) representing Baltic Horizon Fund, successfully sold the property to Groa Real Estate Opportunity Fund UAB, managed by Groa Capital. The sale, which was finalized last week, was completed at an impressive sales price of approximately EUR 16 million.
Use of Proceeds
This transaction is not just a routine sale; it's part of a broader financial strategy for Baltic Horizon Fund. Proceeds from the transaction will be utilized to redeem EUR 3 million of the Fund's bonds, alongside repaying an existing loan from Bigbank. This strategic move is aimed at strengthening their financial standing while optimizing their capital structure.
Investor Communication
In a bid to keep investors informed, Baltic Horizon Fund issued a public announcement regarding the completion of the sale. This communication was shared through an official stock exchange announcement, thereby ensuring that all stakeholders are kept in the loop regarding significant developments within the Fund.
Commitment to Transparency
The Fund believes that transparency is crucial in maintaining investor confidence and trust. By providing timely updates about transactions and related financial strategies, Baltic Horizon Fund aims to showcase its commitment to ethical governance and proactive management.
Looking Ahead
As Baltic Horizon Fund continues to navigate the evolving landscape of real estate investment, the completion of the Meraki Business Home sale sets the stage for future opportunities. The Fund's management team is focused on identifying new investment prospects and maximizing value for its investors.
Future Opportunities
This sale signifies not just the end of one chapter but the beginning of new opportunities. With a strong foundation and strategic intentions, Baltic Horizon Fund is poised to explore further investments that could enhance its portfolio and deliver favorable returns to its stakeholders.
Frequently Asked Questions
What is Baltic Horizon Fund?
Baltic Horizon Fund is a closed-end real estate fund designed to invest in income-generating properties in the Baltic region.
Who manages Baltic Horizon Fund?
The fund is managed by Northern Horizon Capital AS, holding a license as an Alternative Investment Fund Manager.
What was the sale price of Meraki Business Home?
The Meraki Business Home was sold for approximately EUR 16 million, reflecting strong market demand for real estate in the region.
How will the proceeds be used?
The proceeds will help redeem EUR 3 million in bonds and repay a loan to Bigbank, strengthening the Fund's financial position.
What are the future plans for the fund?
Baltic Horizon Fund aims to identify additional investment opportunities that align with their strategic goals for long-term growth.
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