{"id":3195,"date":"2024-08-15T08:08:21","date_gmt":"2024-08-15T05:08:21","guid":{"rendered":"https:\/\/eref.ee\/?p=3195"},"modified":"2024-08-15T08:08:21","modified_gmt":"2024-08-15T05:08:21","slug":"a-subsidiary-of-eften-real-estate-fund-as-sold-a-property-in-the-tahesaju-commercial-area","status":"publish","type":"post","link":"https:\/\/eref.ee\/en\/a-subsidiary-of-eften-real-estate-fund-as-sold-a-property-in-the-tahesaju-commercial-area\/","title":{"rendered":"A subsidiary of EfTEN Real Estate Fund AS sold a property in the T\u00e4hesaju commercial area"},"content":{"rendered":"

The 100% subsidiary of the fund, EfTEN T\u00e4hesaju tee O\u00dc, signed on 13.08.2024 with Kinnisvara Info AS agreement under the law of obligations and sold the property located at T\u00e4hesaju 5 in the T\u00e4hesaju retail park in Lasnam\u00e4e, Tallinn, at a price that does not significantly differ from the property’s last balance sheet value. The transaction is planned to be completed on 16.09.2024. AS Kinnisvara Info acquires the property for its own use with the aim of using the building as a Konverter Furnishing Center. The parties have agreed that the terms of the transaction will be confidential. The transaction is not considered to be significant according to the section “Requirements for issuers” of the rules and regulations of the NASDAQ Tallinn Stock Exchange.\u00a0<\/span><\/p>\n

At the same time, a lease termination agreement was signed with the previous tenant of the property – AS Hortes, according to which AS Hortes will cease operations in the T\u00e4hesaju on 13.09.2024.\u00a0<\/span><\/p>\n

After the July 2024 stock exchange announcement<\/a><\/span> of the termination of Hortes’ lease, several new tenants appeared for the T\u00e4hesaju 5 property. After a thorough consideration of the alternatives, the management board of the fund decided that from the investors’ point of view, the best decision is to sell the property to a new end user and reinvest the proceeds in new commercial real estate projects. The book value of this property is 1.3% of the total volume of consolidated real estate investments of EfTEN Real Estate Fund AS.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The 100% subsidiary of the fund, EfTEN T\u00e4hesaju tee O\u00dc, signed on 13.08.2024 with Kinnisvara Info AS agreement under the law of obligations and sold the property located at T\u00e4hesaju 5 in the T\u00e4hesaju retail park in Lasnam\u00e4e, Tallinn, at a price that does not significantly differ from the property’s last balance sheet value. The […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-3195","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nA subsidiary of EfTEN Real Estate Fund AS sold a property in the T\u00e4hesaju commercial area - Eref<\/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:\/\/eref.ee\/en\/a-subsidiary-of-eften-real-estate-fund-as-sold-a-property-in-the-tahesaju-commercial-area\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A subsidiary of EfTEN Real Estate Fund AS sold a property in the T\u00e4hesaju commercial area - Eref\" \/>\n<meta property=\"og:description\" content=\"The 100% subsidiary of the fund, EfTEN T\u00e4hesaju tee O\u00dc, signed on 13.08.2024 with Kinnisvara Info AS agreement under the law of obligations and sold the property located at T\u00e4hesaju 5 in the T\u00e4hesaju retail park in Lasnam\u00e4e, Tallinn, at a price that does not significantly differ from the property’s last balance sheet value. 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