On May 12, 2017 EfTEN Real Estate Fund III AS acquired a development project "Laagri Selver Shopping Centre" at Pärnu mnt 554, Tallinn, Estonia, through the purchase of the 100% shares in Projekt 554 OÜ. The construction company of the Shopping Centre - AS Oma Ehitaja - has completed construction works of the building and main parking lot. The permit for use is issued on 07.12.2017. The total cost of the construction works amount to 4.3 million euros + VAT.
The Shopping Centre is 100% covered by lease agreements, and all leased premises have been transferred to the tenants. The anchor tenant is AS Selver, whose premises with total surface area of 2,626 m². The Shopping Centre will be opened on 14.12.2017, from which date the Project 554 OÜ will receive rental income.
Tõnu Uustalu
Member of the Management Board
Phone 655 9515
E-mail: tonu.uustalu@eften.ee