Pontos acquires shopping center "Babilonas I" in Lithuania

2011-12-09
"Babilonas I" shopping centre is the largest and the leading shopping centre in Panevezys region, and one of the best known shopping centres in Lithuania. With gross leasable area of over 22 thousand sq.m and an annual footfall of 4.5 million visitors, this single-storey shopping centre offers a solid international tenant mix, including NewYorker, United Colors of Benetton, JYSK, Deichman, Takko Fashion, and is anchored by Hyper Norfa - one of the leading supermarket chains in Lithuania. Panevezys is the 5th largest city in the country with over 110 000 inhabitants, located on an intersection of two Trans-European transportation arteries, connecting major Baltic and European cities. The strategic location makes "Babilonas I" a key retail destination in the region.

Pontos is a family owned private equity and real estate investment company operating in Finland, the Baltic States and Russia. Pontos‘ target is to continue investing in shopping centres in the Baltic States. More information from the website
www.pontos.fi.

The seller is Carpathian PLC, which is a real estate fund listed on the AIM market of the London Stock Exchange. The company announced 2009 the intention to dispose of its assets and return capital to its shareholders. This deal was part of that process.

The advisors in the deal for Pontos were Newsec, Tark Grunte Sutkiene and Ernst&Young