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EfTEN Kinnisvarafond II news

The Radisson Collection hotel is the first renovated building in Estonia that qualified for SEB’s green loan

The renovated Radisson Collection hotel, owned by EfTEN Kinnisvarafond II AS, has undergone a significant change and achieved an A-energy class. It is the first renovated building that qualified for SEB’s green loan.

Anu Arnover, head of SEB’s corporate banking real estate department: “The successful renovation of the Radisson Collection hotel shows how sustainable development can be integrated into business, bringing environmental and cost advantages as well as better financing conditions.” Arnover emphasized that significant energy savings can also be achieved by renovating existing buildings.

The building was constructed in 2001, and since 2015 the hotel has been part of the portfolio of EfTEN Kinnisvarafond II. “Our experience with the Radisson Hotel shows that significant energy savings can also be achieved by renovating old buildings at reasonable costs. Therefore, obtaining an A-class energy label does not require the construction of new and often expensive buildings,” said Merle Purre, head of sustainable development at EfTEN Capital. “EfTEN invested 250 euros per square meter in the energy efficiency of the building, and in addition to energy savings of more than 30%, we also achieved savings in interest costs through the green loan,” added Purre.

“This financing also confirms SEB’s commitment to promoting sustainability in the real estate sector. We will continue to support the renovation of existing buildings to meet high energy efficiency standards and thereby contribute to reducing carbon emissions and preserving natural resources,” said Arnover. “We believe that by supporting such initiatives, we can encourage more companies to make sustainability a priority in their operations.”

The renovated Radisson Collection is a five stars hotel and offers several top-level services, including hotel rooms designed by Estonian designers, a SPA complex, a 1 000 square meter conference center and two top restaurants. Sustainable solutions have been used in the interior of the hotel, such as carpets reproduced from old fishing nets in the corridors and photos by photographer Kristoffer Vaikla on the walls of the rooms, which introduce Estonia through 12 different themes.


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