The funds managed by these companies end in 2013 or 2014 and they have already started either structured or light sales processes, Newsec said in its 2013 Baltic Property Market report.
Younger local funds, such as Lords LB and Eften Capital, are active in the market covered by Newsec report as well. These funds, according to the analysts, are able to invest up to 50 million euros of equity during this year, the report reads.
Secondary bank asset managing companies have recently become solid players in the Baltic market. For example, Ektornet, which is controlled by Swedbank, has sold the Gedimino 9 shopping center in Vilnius only 12 months after acquisition.
According to the report, new and existing private Nordic investors, such as Kawe Group and Nordic & Baltic Property Group, as well as private local investors, such as Capital Mill, are actively monitoring the Baltic countries’ market as well.
An increasing amount of private Russian and Nordic money brought via local partners will result into a larger number of strong local asset managers, the report reads.
Of the three Baltic countries, Estonia is still perceived as the most attractive country to invest in, greatly helped by the euro and close ties to Finland.
Newsec forecast last week that around 300 million euros worth of transactions will be concluded in the Baltic real estate market this year, up from 196 million euros in 2012.
