The Estonian office of the Borenius law firm has advised the Eastern Europe Real Estate Fund (EEREIF) on the sale of Telliskivi Loomelinnak to Butembo OU, which is owned by a Swedish Andren family. The value of the deal was EUR 4.8 million.
According to Borenius, Telliskivi Loomelinnak is the biggest center of creative industries in Estonia, and is located just outside the Talinn city center, where it also functions as a public space and gathering spot. The complex also has a number of restaurants and cafes, shops, and a daycare center, in addition to other kinds of businesses.
The EEREIF fund was first established in 2008 to invest in commercial real estate in Eastern Europe. In 2013 the fund began its planned liquidation, and the sale of Telliskivi Loomelinnak was the first disposal in the liquidation process.
The Borenius legal team on the matter included Partner Aivar Taro, Senior Associate Triin Ploomipuu, and Associates Mariann Sirgmets and Erki Parik.
