Closed-end real estate fund EfTEN Kinnisvarafond II AS will soon acquire the Marienthal commercial centre in Kristiine district, Tallinn. Projector advised the long-term partner by carrying out technical due diligence of the buildings.
According to EfTEN Real Estate Fund II fund manager Viljar Arakas, this is the sixth investment of the fund. “The people of Tallinn are quite familiar with the Marienthal Centre and it is very well structured and maintained. Increasing the share of offices was a strategic consideration in our second fund and we have found a suitable building,” Arakas added.
The property includes a total of 580 parking spaces, and 13,426 square feet of rented space with 26 long-term tenants. The year of construction of the building is 2008.