Baltic Horizon Baltic Horizon

INVEST IN THE BIGGEST COMMERCIAL REAL ESTATE FUND IN THE BALTICS

Baltic Horizon Fund is the first commercial real estate fund with a dispersed portfolio listed on Tallinn and Stockholm stock exchanges, which invests in business real estate in Tallinn, Riga and Vilnius.

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Issuer Baltic Horizon Fund
ListingNasdaq Tallinn and Nasdaq Stockholm
ISINEE3500110244
Who can invest?Retail investors in Estonia and Lithuania and professional and certain other investors in selected European Economic Area jurisdictions.
Offer size17,292,062 units*
Subscription price1.1566 euros per unit
Subscription periodfrom 10:00 (EEST) on 8 October 2020 to 16:00 EEST on 22 October 2020
Minimum subscription volume1000 Units
Allocation23 October 2020
SettlementOn or about 27 October 2020. The value date of the settlement will be 28 October 2020 and the settlement is expected to take place during the night-time settlement cycle of T2S settlement platform starting at 21:00 (Estonian time) on 27 October 2020.
First trading day on Nasdaq TallinnOn or about 28 October 2020
First trading day on Nasdaq StockholmOn or about 28 October 2020
*+ 17,292,062 upsizing option
  • Stock Exchange Ticker
    NHCBHFFT
  • Volume
    > EUR 345.5 million
  • Equity
    > EUR 138 million
  • Cash distribution 2019
    8% per annum
  • LTV
    59.5%
  • Disbursements to investors since 2016
    29+ million €
  • Cash distribution
    4x per year
  • S&P rating
    MM3 / BB;BB+
    (corresponds to BB/BB+ rating, highest rated fund on Nasdaq Baltic)

WHY INVEST IN OUR BUSINESS REAL ESTATE?

  • Functioning commercial buildings rather than projects on paper
  • Stable cash flow from long-standing anchor tenants
  • Delegated administration compared to rental apartments
  • Higher dividend yield compared to rental real estate
  • Higher liquidity on the stock market compared to rental real estate
  • Hedged risks in terms of both location and sectors

COMMERCIAL BUILDINGS IN THREE CAPITALS

Our portfolio includes 15 registered immovables in Tallinn, Riga and Vilnius – these are office buildings and commercial and shopping centres in the heart of each city, with their anchor tenants being stable international large enterprises, supermarkets, and local state enterprises.

CASH DISTRIBUTION 4X PER YEAR

Pursuant to the rules of the fund, the objective is to make monetary payments from rental activities at least to the extent of 80% of the free cash flow. In 2019, dividends at the rate of 8% were disbursed in quarterly payments. The fund reduced disbursements for Q1&2 2020 in relation to the COVID-19 outbreak and added 2.7 million euros to the disbursement reserve. The generated net cash flow for Q1&2 2020 amounted to 0.054 euros per share (share value on the stock market is ca. 1.15 euros).

OPTIMAL BALANCE BETWEEN RISK AND YIELD

Risk management is an essential part of our commercial operations. Business risks cannot be entirely eliminated, but they can be identified and methodologically managed. Our fund is mainly focused on A-class buildings located in the city centres of the capitals of the Baltics, strong tenants, and investments in different segments.

By using this strategy and diversifying the portfolio, we are able to optimise the risks.
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Baltic Horizon is the only fund on the Nasdaq Baltic stock exchange to be accredited by S&P with the MM3 / BB;BB+ rating. See more

OUR THREE PRINCIPLES FOR RISK MANAGEMENT
LOCATION
The objects are dispersed between the capitals of the Baltics, mainly in the city centre area.
SEGMENT
We also diversify our objects in terms of fields of activity – offices, shopping centres, cinemas, health clubs.
IMMOVABLE PROPERTY
We invest in A-class quality buildings with a stable cash flow.

TOP 5 INVESTORS

  • Swedish Church Pension Fund

  • SEB Baltic Pension Funds and clients

  • VP Bank S.A. clients

  • Vienna Insurance Group

  • Eikos AB