EfTEN Kinnisvarafond II AS has bought the Marienthal Center complex in Tallinn’s Kristiine district from AS Gildhall. The Marienthal Center was completed in 2008 and contains more than 13,000 sqm of rented space and 580 parking spaces. It also houses 26 long-term tenants that include anchor tenants such as Coca Cola, Fujitsu and Selver. Viljar Arakas, fund manager of EfTEN Real Estate Fund II, said the building, a well-known feature on Tallinn’s skyline, was the sixth investment of the fund. The transaction should close in the second quarter of 2018 after permission from the Estonian Competition Authority has been granted. The sale price has not been disclosed, however it’s been stated that the assets of EfTEN Kinnisvarafond II AS will grow to €250 million as a result of the purchase.
