EfTEN Kinnisvarafond news
EfTEN Real Estate Fund acquired two landmark office buildings in Tallinn
EfTEN Real Estate Fund acquired two landmark office buildings in Tallinn CBD for EUR 18.5 million. The transaction was financed by Swedbank and closed on 30th December 2011.
According to Viljar Arakas, the fund manager of EfTEN Real Estate Fund, this is the biggest investment in the fund’s three year history. “We are very pleased with the deal. Both of the Pärnu mnt commercial buildings have premium lease contracts and fit very well by profile to our investment portfolio,“ said Arakas. In total the Pärnu mnt buildings contain over 19 000 square meters of closed net space. Pärnu mnt 105 building is known as Äripäeva (Estonian biggest business daily, Bonnier group company) building, other big tenants being Oma Ehitaja and Navirec. Pärnu mnt 102 c biggest tenants are on Arvato Services Estonia, K-Rauta, Qvalitas, YIT Ehitus, Kühne & Nagel, Icifire, Markit EE, Tumlare. With one of the biggest deals in 2011 the asset volume of EfTEN Real Estate Fund exceeded the EUR 50 million.
EfTEN Real Estate Fund, regulated by Estonian FSA, is a real estate fund founded by EfTEN Capital in 2008, which invests in commercial real estate and the current portfolio consists of 11 cash-flow generating objects in Estonia.