{"id":1052,"date":"2012-07-09T14:47:32","date_gmt":"2012-07-09T11:47:32","guid":{"rendered":"http:\/\/olga\/eften\/cms\/news\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\/"},"modified":"2015-12-01T11:39:42","modified_gmt":"2015-12-01T09:39:42","slug":"eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn","status":"publish","type":"post","link":"https:\/\/eften.ee\/en\/eften-kinnisvarafond-news\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\/","title":{"rendered":"EfTEN Real Estate Fund acquires Mustika retail Center in Tallinn"},"content":{"rendered":"<p><strong>EfTEN Real Estate Fund purchased Mustika retail centre in Tallinn which is the fund\u2019s biggest investment so far, all together nearly 42,000 m2 of GBA (incl. 10 000 m2 of underground parking facility).<\/strong><\/p>\n<p>According to Viljar Arakas, the CEO of EfTEN Capital, with this investment EfTEN Real Estate Fund increased the volume of assets by one third, which now exceeds 70 million euros. The total transaction volume was 21,5 million euros. The retail centre will be managed by EfTEN Capital\u2019s business manager of retail premises, Mr. Toomas \u00d5un.<\/p>\n<p>The total rentable area of the retail centre is 21 500 m2 out of which 93% is covered by tenants like Prisma Peremarket, Olympic Casino, OnOff, BabyCity, ZooPlanet etc. EfTEN plans to invest 2 million euros in addition to the retail centre to renovate the centre for a further 4000 m2 of space and fill it with various shops and service establishments, said Viljar Arakas. With additional investment is planned to improve the shopping centre\u2019s logistical level for tenants, for example, to build an additional escalator, which certainly creates a higher interest among different merchants, and makes it more convenient for visitors.<\/p>\n<p>&#8220;For population of the Mustam\u00e4e Mustika shopping centre is strategically located in a very good location, homeward bound on the right hand along the Mustam\u00e4e road, also coming along the Tammsaare road. Furthermore, this is essentially one of the last centres in Tallinn, which was not yet owned by institutional investors. Looking at the numbers and location of the shopping centre, we saw the great potential&#8221;, said Arakas.<\/p>\n<p>Additionally, EfTEN Real Estate Fund is developing UKU shopping centre in Viljandi, which is expected to open in early November of this year. Also, EfTEN Real Estate Fund has in co-ownership with subsidiary of Silikaat group Lepa Center in P\u00e4rnu. Fund&#8217;s portfolio includes a total of 12 objects, with a total 75 000 m2 of rental area, divided into office, service, warehousing and public sector of property.<br \/>\nSeven Real Estate Advisors acted as sell-side advisor for the sales transaction. The transaction was financed by SEB Bank.<\/p>\n<p>EfTEN Real Estate Fund is established by EfTEN Capital AS, the fund manager, in year 2008. The fund invests in commercial real estate properties; a portfolio of commercial real estate has a total of 12 objects. EfTEN Capital AS is an asset management company founded in 2008, specialising in real estate investments. EfTEN Capital is licensed as a fund manager by Estonian FSA. The company also offers private portfolio management.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EfTEN Real Estate Fund purchased Mustika retail centre in Tallinn which is the fund\u2019s biggest investment so far, all together nearly 42,000 m2 of GBA (incl. 10 000 m2 of underground parking facility). According to Viljar Arakas, the CEO of EfTEN Capital, with this investment EfTEN Real Estate Fund increased the volume of assets by [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[],"class_list":["post-1052","post","type-post","status-publish","format-standard","hentry","category-eften-kinnisvarafond-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EfTEN Real Estate Fund acquires Mustika retail Center in Tallinn &#8212; EfTEN Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eften.ee\/en\/eften-kinnisvarafond-news\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EfTEN Real Estate Fund acquires Mustika retail Center in Tallinn &#8212; EfTEN Capital\" \/>\n<meta property=\"og:description\" content=\"EfTEN Real Estate Fund purchased Mustika retail centre in Tallinn which is the fund\u2019s biggest investment so far, all together nearly 42,000 m2 of GBA (incl. 10 000 m2 of underground parking facility). According to Viljar Arakas, the CEO of EfTEN Capital, with this investment EfTEN Real Estate Fund increased the volume of assets by [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/eften.ee\/en\/eften-kinnisvarafond-news\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\/\" \/>\n<meta property=\"og:site_name\" content=\"EfTEN Capital\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/@eften.ee\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-07-09T11:47:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-12-01T09:39:42+00:00\" \/>\n<meta name=\"author\" content=\"eften\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"eften\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/eften.ee\\\/en\\\/eften-kinnisvarafond-news\\\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/eften.ee\\\/en\\\/eften-kinnisvarafond-news\\\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\\\/\"},\"author\":{\"name\":\"eften\",\"@id\":\"https:\\\/\\\/eften.ee\\\/en\\\/#\\\/schema\\\/person\\\/cf75956c37ab60fb00914a515e5733ff\"},\"headline\":\"EfTEN Real Estate Fund acquires Mustika retail Center in Tallinn\",\"datePublished\":\"2012-07-09T11:47:32+00:00\",\"dateModified\":\"2015-12-01T09:39:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/eften.ee\\\/en\\\/eften-kinnisvarafond-news\\\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\\\/\"},\"wordCount\":415,\"publisher\":{\"@id\":\"https:\\\/\\\/eften.ee\\\/en\\\/#organization\"},\"articleSection\":[\"EfTEN Kinnisvarafond news\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/eften.ee\\\/en\\\/eften-kinnisvarafond-news\\\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\\\/\",\"url\":\"https:\\\/\\\/eften.ee\\\/en\\\/eften-kinnisvarafond-news\\\/eften-real-estate-fund-acquires-mustika-retail-center-in-tallinn\\\/\",\"name\":\"EfTEN Real Estate Fund acquires Mustika retail Center in Tallinn &#8212; 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