Pohla & Hallmagi has advised Arca Varahaldus on its EUR 6.2 million sale of property in Tallinn to EfTEN Real Estate Fund III AS subsidiary EfTEN SPV19 OU.
The property will become a home for the elderly called Pirita Pansionaat and will be rented by the home’s operator, Pirita Kodu, for a period of ten years.
The area of the property is 13,270 square meters. The total area of the building under construction is about 6,000 square meters. There will be room for 250 clients.
EfTEN Real Estate Fund III AS is an alternative investment fund that is listed on the Nasdaq Baltic Main List.
Pohla & Hallmagi’s team was led by Partner Martin Mannik.