Baltic Core Property Fund cancels Baltic public offering after weak demand

Lords LB Asset Management has cancelled the public offering of Baltic Core Property Fund units in Lithuania, Latvia and Estonia after investor demand proved insufficient.

The fund had offered up to 35 million units at €1 each during a subscription period running from 2 to 30 September.

Following a review of the results, the manager decided not to allocate any units. All submitted subscription orders have been cancelled, while reserved or transferred investor funds are to be released or refunded.

Lords LB Asset Management said it may return to the market after considering investor feedback and market conditions.

The cancellation provides a clear result for this individual offering, but on its own does not establish a broader decline in investor demand for Baltic commercial real estate.

Source: Lords LB Asset Management / Nasdaq Baltic