Unitholders will receive distributions on October 28 (Payment date). Unitholders entitled to receive distributions will be determined according to a unitholder list based on October 26 at 23:59 (Record date).

“Baltic Horizon Fund aims to distribute at least 80% of its free cash flow to investors on a quarterly basis, which is estimated to result in 7-9% annual dividend” said fund manager, Tarmo Karotam.

Following the quick allocation of capital raised in the IPO, with this first dividend of Baltic Horizon Fund and we are content to be able to keep to our promise and begin our quarterly dividend tradition, reiterated Tarmo Karotam.

“In the context of growing the fund we should say that dividends are paid only from operating activities, whereas new acquisitions will be funded by additional capital emissions. This is also a normal practice in western REITs,” added Baltic Horizon’s business development manager, Algis Vaitiekunas.

The fund currently owns 7 cash-flow generating properties worth over EUR 125 million: 3 in Tallinn, 2 in Riga and 2 in Vilnius. Baltic Horizon Fund on 3 October announced the plan to raise additional capital for its property pipeline and become the first AIF on Nasdaq Stockholm fund (AIF) list.

Baltic Horizon Fund is a registered public closed-end real estate fund and Baltic Horizon units began trading on the Nasdaq Baltic Fund list of July 6, 2016. The company’s stock symbol (ticker) is NHCBHFFT. The fund is managed by Northern Horizon Capital.