EfTEN Härgmäe OÜ's Recent Acquisition
EfTEN Härgmäe OÜ, part of EfTEN Real Estate Fund AS, is making a noteworthy move in the logistics sector. They've recently signed a contract with Conus Assets OÜ to acquire key properties located on Härgmäe and Piimamehe streets in Tallinn. This transaction, valued at €8,800,000 plus VAT, represents a strategic expansion of their portfolio.
Purchase Agreement Details
The acquisition is structured under the law of obligations, starting with an initial payment of €500,000 made at the time of signing the contract. The balance will be paid upon finalizing the real rights contract. Funding for this acquisition relies on equity capital from the fund, which has been strengthened by the recent sale of the Tähesaju property, alongside an expected loan agreement with Swedbank AS.
Plans for the Acquired Properties
The newly acquired properties will serve as a logistical hub for ELP Logistics OÜ. They are set to operate under a long-term lease agreement lasting 15 years, which will provide stability and support for their logistics activities. This move is well-timed, given the rising demands in the logistics sector, especially in urban areas.
About the Company and Its Leaders
EfTEN Härgmäe OÜ is wholly owned by EfTEN Real Estate Fund AS and was established in Estonia with a modest share capital of €2,500. The management team comprises Viljar Arakas and Tõnu Uustalu, highlighting a solid leadership structure. Interestingly, there isn't a supervisory board to oversee operations, which enables more prompt decision-making.
No Major Market Impact
Although this subsidiary's formation is significant, it doesn't represent a major acquisition as defined by the Tallinn Stock Exchange regulations. Additionally, members of the fund's supervisory and management boards don't hold any personal financial interests associated with this transaction, which promotes transparency and trust.
Contact Details
For more information, you can contact Viljar Arakas, a board member, at Tel. 655 9515. He’s also available via email at viljar.arakas@eften.ee.
Frequently Asked Questions
What properties has EfTEN Härgmäe OÜ acquired?
EfTEN Härgmäe OÜ has acquired properties on Härgmäe st 8 and Piimamehe st 7 in Tallinn.
What is the total cost of the acquisition?
The total cost for the properties is €8,800,000 plus VAT.
How will the acquisition be financed?
The financing for the purchase will come from equity capital from prior sales and a forthcoming loan agreement with Swedbank AS.
What plans does ELP Logistics OÜ have for the properties?
ELP Logistics OÜ intends to utilize the properties through a long-term lease, specifically for their logistics operations.
Who are the members of EfTEN Härgmäe OÜ's management?
The management team consists of Viljar Arakas and Tõnu Uustalu, providing effective leadership for the subsidiary.
