EfTEN Kinnisvarafond news
EfTEN Real Estate Fund acquired a known office building in Tartu
EfTEN SPV1, the daughter company of EfTEN Real Estate Fund, purchased the office building known to local people as the Kapitali maja in Tartu, Ülikooli 6A for 2.25 million euros. Sampo Pank and 16 other existing tenants carry on business on the premises.
According to Viljar Arakas, the Fund Manager of EfTEN Real Estate Fund, the company was seeking to increase the share of office space in its real estate portfolio. “This is the ninth investment in the portfolio and the first investment into Tartu commercial real estate. We took interest in the building mainly because of its very good location in the Tartu city center”, said Mr. Arakas. “EfTEN Real Estate Fund continues with the investment activity. The fund has further financial instruments, ca. 30 million euros with a net worth of 10 million euros for future investments into real estate sector.”
The office building, built in 1997, has 6 floors with a total usable floor space of 3524 m2. The office building was sold to EfTEN Real Estate Fund through Tartu-based company OÜ Kinnisasi by its owner local entrepreneur Mart Avarmaa.
The business transaction was consulted by Paavo Mikk from the consulting firm AIO and financed by SEB Pank.
EfTEN Real Estate Fund is a real estate fund which invests in business property, and is managed by EfTEN Capital AS. EfTEN Real Estate Fund has made a total 9 business real estate investments starting of August 2008 with a total volume of 26 million euros.
Additional info:
Viljar Arakas
EfTEN Capital AS
CEO
Moble: 50 87 508
E-mail: [email protected]