Ellex Raidla is advising Lumi Capital and LHV pension funds on the acquisition of buildings in the outskirts of Tallinn's Mustamae district from Bonava.
According to Ellex, the buildings, which will be completed in the second half of 2021, will feature 84 one, two, and three-room apartments for rent. The buildings will, the firm reports, "form a part of the comprehensive living environment developed by Bonava, in which 750 new homes will be completed over the next five to seven years."
“Lumi Capital will continue looking for investments all over Tallinn, to create brand new rental apartments, for which there is a great demand. In cooperation with LHV pension funds we plan to increase the portfolio of rental houses to 500 apartments,” commented Martin Rekor, partner at Lumi Capital.
Ellex Raidla’s Partner Ermo Kosk, Senior Associate Sandra Vark, and Associate Marilin Laud are advising Lumi Capital and LHV pension funds on the establishment of the transaction's legal structure, conducting the legal due diligence, and drafting and negotiating transaction documents.