Establishment of a subsidiary, and conclusion of purchase contract for the properties of the ELP Logistics OÜ logistics center

EfTEN Härgmäe OÜ, a 100% subsidiary of EfTEN Real Estate Fund AS, signed on 19.09.2024 a contract under the law of obligations with Conus Assets OÜ for the acquisition of properties located at Härgmäe st 8 and Piimamehe st 7 in Tallinn, on which a newly constructed business and logistics building is located. The total sale price of the properties is 8,800,000 euros, plus VAT. Of that 500,000 euros has been paid at the conclusion of the contract under the law of obligation and the remaining part is paid at the conclusion of the real rights contract. The acquisition of the properties is financed from the fund's equity capital, which was received from the sale of the Tähesaju property and from the loan agreement which will be signed with Swedbank AS. The transaction is scheduled to close by the end of October.

The properties will be used by the logistics company ELP Logistics OÜ under a long-term lease (10+5 years) agreement.

EfTEN Härgmäe OÜ is a 100% subsidiary of EfTEN Real Estate Fund AS. It is established in the Republic of Estonia with the share capital of 2,500 euros. Viljar Arakas and Tõnu Uustalu are members of the management board of the private limited company. The company does not have a supervisory board. The establishment of a subsidiary cannot be considered as the acquisition of a significant share within the meaning of the Tallinn Stock Exchange regulations. The members of the fund's supervisory board and management board have no personal economic interest in the transaction in any other way.

Viljar Arakas
Member of the board
Tel. 655 9515
E-post: viljar.arakas@eften.ee