{"id":8077,"date":"2024-09-20T09:15:35","date_gmt":"2024-09-20T06:15:35","guid":{"rendered":"https:\/\/eften.ee\/?p=8077"},"modified":"2024-09-20T09:15:35","modified_gmt":"2024-09-20T06:15:35","slug":"establishment-of-a-subsidiary-and-conclusion-of-purchase-contract-for-the-properties-of-the-elp-logistics-ou-logistics-center","status":"publish","type":"post","link":"https:\/\/eften.ee\/en\/eften-real-estate-fund-news\/establishment-of-a-subsidiary-and-conclusion-of-purchase-contract-for-the-properties-of-the-elp-logistics-ou-logistics-center\/","title":{"rendered":"Establishment of a subsidiary, and conclusion of purchase contract for the properties of the ELP Logistics O\u00dc logistics center"},"content":{"rendered":"<p>EfTEN H\u00e4rgm\u00e4e O\u00dc, a 100% subsidiary of EfTEN Real Estate Fund AS, signed on 19.09.2024 a contract under the law of obligations with Conus Assets O\u00dc for the acquisition of properties located at H\u00e4rgm\u00e4e st 8 and Piimamehe st 7 in Tallinn, on which a newly constructed business and logistics building is located. The total sale price of the properties is 8,800,000 euros, plus VAT. Of that 500,000 euros has been paid at the conclusion of the contract under the law of obligation and the remaining part is paid at the conclusion of the real rights contract. The acquisition of the properties is financed from the fund&#8217;s equity capital, which was received from the sale of the T\u00e4hesaju property and from the loan agreement which will be signed with Swedbank AS. The transaction is scheduled to close by the end of October.<\/p>\n<p>The properties will be used by the logistics company ELP Logistics O\u00dc under a long-term lease (10+5 years) agreement.<\/p>\n<p>EfTEN H\u00e4rgm\u00e4e O\u00dc is a 100% subsidiary of EfTEN Real Estate Fund AS. It is established in the Republic of Estonia with the share capital of 2,500 euros. Viljar Arakas and T\u00f5nu Uustalu are members of the management board of the private limited company. The company does not have a supervisory board. The establishment of a subsidiary cannot be considered as the acquisition of a significant share within the meaning of the Tallinn Stock Exchange regulations. The members of the fund&#8217;s supervisory board and management board have no personal economic interest in the transaction in any other way.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EfTEN H\u00e4rgm\u00e4e O\u00dc, a 100% subsidiary of EfTEN Real Estate Fund AS, signed on 19.09.2024 a contract under the law of obligations with Conus Assets O\u00dc for the acquisition of properties located at H\u00e4rgm\u00e4e st 8 and Piimamehe st 7 in Tallinn, on which a newly constructed business and logistics building is located. The total [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-8077","post","type-post","status-publish","format-standard","hentry","category-eften-real-estate-fund-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Establishment of a subsidiary, and conclusion of purchase contract for the properties of the ELP Logistics O\u00dc logistics center &#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-real-estate-fund-news\/establishment-of-a-subsidiary-and-conclusion-of-purchase-contract-for-the-properties-of-the-elp-logistics-ou-logistics-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Establishment of a subsidiary, and conclusion of purchase contract for the properties of the ELP Logistics O\u00dc logistics center &#8212; EfTEN Capital\" \/>\n<meta property=\"og:description\" content=\"EfTEN H\u00e4rgm\u00e4e O\u00dc, a 100% subsidiary of EfTEN Real Estate Fund AS, signed on 19.09.2024 a contract under the law of obligations with Conus Assets O\u00dc for the acquisition of properties located at H\u00e4rgm\u00e4e st 8 and Piimamehe st 7 in Tallinn, on which a newly constructed business and logistics building is located. 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