EfTEN Real Estate Fund AS Expands its Portfolio
EfTEN Hiiu OÜ, a subsidiary of EfTEN Real Estate Fund AS, has successfully completed a significant acquisition for the construction of an elderly care home. This transaction marks a strategic move in enhancing care facilities within the community.
Details of the Acquisition
The property, located at Hiiu 42 in Tallinn, was purchased from Südamekodu AS. The groundwork for this acquisition had been laid with the notification to the stock exchange about a prior contract of sale, ensuring transparency and compliance with obligations.
Meeting Pre-conditions
As part of the process, all requisite conditions for the transfer of ownership have been successfully met. This careful planning reflects the fund's commitment to delivering quality care services.
Future Development of Nõmme Südamekodu
Looking ahead, the North Estonia Medical Centre will retain a lease on part of the acquired property, reassuring continuity of care while facilitating the development of the Nõmme Südamekodu elderly care home. The remaining area will undergo significant renovations to meet the necessary healthcare standards.
Collaboration with Hiiu Südamekodu OÜ
A long-term lease agreement has been established with Hiiu Südamekodu OÜ, ensuring stability and partnership in the project. This collaboration aims to create an environment tailored for the elderly, with provisions for up to 170 clients.
Community Impact
This initiative demonstrates EfTEN Real Estate Fund AS's dedication to improving community services, particularly for the elderly. By investing in such facilities, the fund not only enhances its portfolio but also contributes significantly to the quality of life for seniors in the region.
Continuing Care Services
The redevelopment of the property into an elderly care home is a testament to the fund's vision of integrating comprehensive care services within the community. It highlights the increasing demand for specialized care as the population ages.
Contact Information
For further inquiries regarding this project, please reach out to Viljar Arakas, a Member of the Management Board. He can be contacted at 655 9515 or via email at viljar.arakas@eften.ee.
Frequently Asked Questions
What is the focus of the new development by EfTEN?
The new development will focus on establishing an elderly care home named Nõmme Südamekodu, accommodating up to 170 clients.
When was the property acquired?
EfTEN Hiiu OÜ completed the acquisition recently, with prior notifications made to ensure transparency.
Who will manage the new elderly care facility?
The facility will be managed in collaboration with Hiiu Südamekodu OÜ, alongside the current lessee, North Estonia Medical Centre.
What are the future plans for the property?
The existing structure will undergo renovations to create a fully functional elderly care home by integrating necessary health care services.
How can I contact EfTEN for more information?
You can contact Viljar Arakas directly via phone or email for any inquiries regarding the new project.
