Investment criteria for developers

The principles below are meant to present potential developers with the fundamental investment criteria used by Baltic Property Trust.

Developers interested in offering projects to one of the BPT funds are welcome to contact our local country managers or the fund raising department.

Property segments	Retail, office, logistics and leisure
Target locations	Baltic Sea region (Estonia, Latvia, Lithuania, Poland, Russia and Germany)
Fund's capacity	Approximately EUR 1 billion.
Investment type	Single or multiple-city development programs with 1-3 years business plan.
Investment size	Minimum of EUR 20 million.
Investment structure	Minimum partner equity contribution of 10% of total equity requirement, with 50-70% third-party development financing. Joint venture established in a holding company or with property-by-property investment, depending on favourable tax and financial analysis. Investor equity participation after full permitting and entitlements are granted.
Partner profile	Trustworthy developer with proven track-record and reputation. From a development partner we expect development and construction expertise, land and property concept development, project/construction supervision and appropriate standard developer guaranties.
Development works	International or major regional construction company; standard cost and time guarantees and retentions.
Occupancy	Depending on structure and product type, minimum level of preleasing required.
Tenancy	Multi-tenant or single tenant; properties should be located, designed and built to be attractive to major international occupants.
Leases	Euro-denominated; Investor and Partner jointly work to use institutional form lease.