Eften Real Estate Fund II bought the the Magistral shopping center in Tallinn’s Mustamae district from Citycon for €24m. The deal still needs to be approved by by the Estonian competition authority and is expected to close in March. Magistral offers 65 stores and service units on about 12,000 sqm of leasable space. Eften Capital CEO Viljar Araka said the company is planning to reassess the center’s tenant mix. “The tenant mix has to correspond with the expectations and needs of the people living near it,” he said. This is the fund’s third acquisition following the Radisson hotel and the Duntes office building in Riga.
