Catella advised Finnkino Oy in sale and lease back transaction of Coca-Cola Plaza

Catella has advised Finnkino Oy in the sale of the Coca-Cola Plaza in the central business district of Tallinn, Estonia, in a sale and lease back transaction. The buyer is BPT Baltic Opportunity Fund, the most recently launched real estate fund from BPT, Baltic Property Trust. 

Coca-Cola Plaza is the largest combined cinema and retail complex in Estonia. Constructed in 2001, the complex has a lettable area of approximately 9,930 sq.m. In total, there are 11 cinema halls with close to 2,000 seats. The property is located in the CBD of Tallinn.

Finnkino Oy’s subsidiary, Forum Cinemas AS, will continue operating in the property under a long-term lease agreement. Finnkino is the market leading cinema chain in Finland and the Baltic countries with 24 movie theatres and a total some 27,000 seats.

“I’m pleased that Catella has advised in another prime real estate transaction on the Baltic market. It’s just few months since Catella advised Ektornet in the sale of its commercial real estate portfolio in Estonia, and similar substantial projects are underway,” says Pauls Platais, Partner Catella in the Baltics.

“The Coca Cola Plaza transaction indicates that investors are continually interested to invest in the Estonian real estate market and prefer well located properties with good tenant covenant,” adds Platais.

The property was acquired by BPT Baltic Opportunity Fund, a closed-end direct real estate investment fund managed by Baltic Property Trust (BPT). The fund invests in prime commercial properties (retail, office and logistics) in the three Baltic countries, Estonia, Latvia and Lithuania.

Catella’s property advisory services comprise three service areas: Sales and Acquisitions, Financing, as well as Analysis and Valuation. The business is established in 11 European countries and has more than 200 employees.

For more information, please contact:
Pauls Platais 

Partner, Catella in the Baltics 
+371 2911 3540 

Press contact: 
Viktoria Ejenäs 

Head of Communications Corporate Finance 
+46 8 463 33 34, +46 72 726 33 34 

About Catella: Catella is an independent financial advisor and asset manager. We have operations in 12 European countries and 430 employees. Catella has a strong offering in financial services through its business breadth, geographical coverage and leading position in the property sector. Catella is listed on Nasdaq OMX First North Premier. Read more about Catella at www.catella.com.

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Catella is a leading specialist in property investments, fund management and banking, with operations in 14 European countries. The group has sales of approximately SEK 2 billion and manages assets of approximately SEK 180 billion. Catella is listed on Nasdaq Stockholm in the Mid Cap segment. Read more at catella.com.

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Quotes

I’m pleased that Catella has advised in another prime real estate transaction on the Baltic market. It’s just few months since Catella advised Ektornet in the sale of its commercial real estate portfolio in Estonia, and similar substantial projects are underway.
Pauls Platais, Partner Catella in the Baltics
The Coca Cola Plaza transaction indicates that investors are continually interested to invest in the Estonian real estate market and prefer well located properties with good tenant covenant.
Pauls Platais, Partner Catella in the Baltics