Critical Update on Lease Agreement for BOF Sky SIA
Baltic Horizon Capital AS, the dedicated management company overseeing the Baltic Horizon Fund, has recently encountered a significant issue regarding a lease agreement involving its subsidiary, BOF Sky SIA. This lease, which is tied to a retail space of approximately 2,600 square meters, is situated in a prime location where the tenant, Skai Baltija, currently operates.
Details of the Termination Notice
Unfortunately, BOF Sky SIA received a notice indicating the tenant's intention to terminate the lease agreement. This decision was communicated to the management and carries substantial implications, particularly with an effective end date of January 2026. However, the management company firmly disagrees with this notification, labeling it as unfounded. The existing lease terms are clear and legally binding, extending until the end of 2029.
Management's Response to the Termination
In response to this unexpected notice, Baltic Horizon Capital AS is prepared to take decisive action. The management team is evaluating all options, including legal avenues to challenge the lease termination. They believe pursuing this matter in courts is essential not only to uphold their contractual rights but also to seek compensation for any potential losses incurred due to the illegal termination attempt by the tenant.
Commitment to Stakeholders and Sustainable Management
This situation highlights Baltic Horizon Fund's commitment to its stakeholders and its principled management approach. They are determined to engage thoroughly with all relevant parties to ensure that the interests of the fund are safeguarded. The management has reassured investors that they will actively defend this legal matter in court, should it be necessary, to uphold the integrity of their operations.
About Baltic Horizon Fund
The Baltic Horizon Fund is a registered public closed-end real estate fund that has been diligently managed by the experienced team at Baltic Horizon Capital AS. With a strategic focus on providing sustainable returns, the fund is committed to transparency and effective communication with its investors.
Investor Communication
Baltic Horizon Capital AS encourages interested parties to reach out for additional insights or queries regarding ongoing operations and decisions. Investors and stakeholders are invited to connect through various channels to stay updated on the fund's activities and development.
For further inquiries, please reach out to:
Tarmo Karotam
Baltic Horizon Fund Manager
Email: tarmo.karotam@baltichorizon.com
Website: www.baltichorizon.com
Frequently Asked Questions
What is the primary issue faced by BOF Sky SIA?
The key issue is the notice of lease agreement termination from tenant Skai Baltija, which the management company disputes.
What action is Baltic Horizon Capital AS planning?
They are considering legal action to challenge the termination and seeking compensation for any losses incurred.
How long does the lease agreement actually run?
The current lease agreement is binding until the end of 2029, contrary to the tenant's termination notice.
Who can stakeholders contact for more information?
Stakeholders can contact Tarmo Karotam, the Baltic Horizon Fund manager, via the provided email.
What is the focus of Baltic Horizon Fund?
The fund aims to provide sustainable returns through diligent management of its real estate investments while ensuring transparency with investors.
