Baltic Sea Properties

M&A Activity • Aug 11, 2021

Baltic Sea Properties signs development contract with international parcel delivery group

Baltic Sea Properties signs development contract with international parcel delivery group

Oslo, 11th of August 2021 – Baltic Sea Properties AS ("BALT" or "the Company", and together with the Company's subsidiaries, "BSP")has signed two lease agreements with the French-owned parcel delivery group DPD (owned by Le Groupe La Poste) for the development of two new distribution centers in Siauliai and Telsiai, Lithuania. The size of the terminals combined is approx. 4000 m2 and will be tailored for distribution and logistics of parcel deliveries, with scheduled delivery by second quarter of 2022.

The lease agreements are both with a 15-years unbreakable lease term on triple net terms. The Company will under the lease agreement also have the obligation to provide and take over further expansions (minimum 1000m2) for both terminals within five years, subject to the tenant’s request within the period.

"DPDgroup has the largest parcel delivery network in Europe and is top of the class in Lithuania. Hence, we are very pleased to enter a long-term cooperation with them for the development of two new logistic-distribution centers. We are extremely impressed with DPD’s operations and believe we are a good fit for DPD’s further expansion in the region”, says CEO of Baltic Sea Properties AS, Lars Christian Berger.

For more information, please contact:

Lars Christian Berger

CEO

phone: +47 930 94 319

Lcb@balticsea.no

Baltic Sea Properties AS is a Norwegian real estate company focusing on development and property management in the Baltics.

The company is one of the Baltics’ leading real estate investors and owns approximately 102,000 m2 of Industrial, logistics & commercial projects in the Baltics with a current expansion possibility for a further 100,000 m2 primarily focused on industrial & logistics parks.

The information in this announcement is subject to disclosure requirements under the EU Market Abuse Regulation and Euronext Growth listing rules.