Fund to focus on energy-efficient projects, bringing more sustainable real estate to the region<\/strong><\/li>\n<\/ul>\nThe European Bank for Reconstruction and Development (EBRD) is supporting the first special opportunities-focused real estate fund in the Baltic region with a clear focus on investments in assets that need injection of additional equity or quasi-equity capital to execute on a business plan.<\/p>\n
EBRD will provide an up to \u20ac20 million equity commitment to Usaldusfond EfTEN Special Opportunities Fund (EfTEN SOF) that is managed by EfTEN Capital, the largest real estate fund manager in the Baltic States. This will be EBRD\u2019s second investment in a real estate fund managed by EfTEN Capital, following the Bank\u2019s EUR 30 million capital commitment to Usaldusfond EfTEN Real Estate Fund 4 in 2019.<\/p>\n
EfTEN SOF was launched in January 2024 to invest in across all real estate asset classes, including residential, across Estonia, Latvia and Lithuania. The fund will pursue a strategy targeting development projects that need additional capital and operational real estate assets facing funding gaps.<\/p>\n
The fund will aim to achieve very high energy efficiency in its projects, at least 10% better than national \u2018nearly Zero Energy Buildings\u2019 (nZEB) standards which align with the EBRD\u2019s green goals as set out in the Bank\u2019s Green Economy Transition (GET) framework.<\/p>\n
Tomas Kairys, EBRD Head of Baltic States, said: \u201cWe are proud to strengthen our partnership with EfTEN Capital, through our investment in its new special opportunities fund. Our investment will not only support greater energy efficiency across the real estate sector in the Baltic States, but will also contribute to the strengthening of the private equity sector regionally \u2013 two of the EBRD\u2019s priorities in the Baltic region.\u201d<\/p>\n
Vlaho Kojakovic, EBRD Head of Real Estate, said: \u201cWe are proud to support a leading market player like EfTEN Capital in increasing and diversifying its range of strategies. Our investment will contribute to its continued institutional development and will provide the necessary liquidity to address a specific financing gap in the market. This project is fully in line with our new real estate strategy, reflecting our commitment to supporting innovative market solutions and enhancing the resilience of the real estate sector in the region.\u201d<\/p>\n
Anne Fossemalle, EBRD Head of Fund Investments, said: \u201cEBRD is pleased to support EfTEN Capital and the wider Baltics\u2019 Real Estate and Private Equity market at a time when the fundraising environment remains rather challenging\u201d.<\/p>\n
Viljar Arakas, CEO of EfTEN Capital, said: \u201cEfTEN SOF is the first ever fund in the Baltic States which provides capital for real estate projects that are in an early stage or do not yet qualify for the sufficient senior lending. The fund aims to fulfill the gap that has been created from the tightened banking sector financing conditions and decreased interest of foreign investors towards the Baltic property sector. The fund\u2019s preferred cases are the ones where together with joint control of existing owners we can successfully take real estate projects to the successful exits. We expect to exit the projects in a 3\u20134 year horizon. The fund will provide financing through both, equity and debt capital. EBRD\u2019s sizable commitment is a proof that the viability of the fund\u2019s investment strategy has been recognized on the highest international level.\u201d<\/p>\n
EBRD is a major investor in the Baltic region. To date it has invested nearly \u20ac1.2 billion through 117 projects in Estonia, more than \u20ac1 billion through 112 projects in Latvia, and almost \u20ac1.6 billion through 131 projects in Lithuania.<\/p>\n","protected":false},"excerpt":{"rendered":"
EfTEN Special Opportunities Fund is the first real estate fund in the Baltic States with a focus on special situations funding solutions EBRD commits up to \u20ac20 million in Usaldusfond EfTEN Special Opportunities Fund First private equity real estate fund in the region to focus on assets in need of additional capital to complete construction […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"class_list":["post-8123","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n
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