YIT Ehitus AS, Estonian subsidiary of YIT Construction, advised by Newsec, signed sales and purchase agreement according to which YIT sells to Estonian investor Capital Mill its 90 per cent ownership of the Office building Mehhatroonikum located in the Tallinn Science Park Tehnopol.
The office building, currently under construction, comprises of approx. 8.300 sqm and is planned to be completed in August, 2012. The main tenants of the property will be AS Metrosert, Mehhatroonika Association and Estonian Patent Information Centre.
Neringa Rastenyte, Head of transactions at Newsec Baltics: “It was a great pleasure to work with YIT, which is one of the most experienced and professional real estate market players in the Baltics. Capital Mill made a great choice. The Mehhatroonikum office centre is a perfect example of sustainable real estate investment. It’s an energy efficient building, dedicated to the companies of the most perspective Baltic economy sectors in the field of science, IT and innovations. Following the global experience, we are sure that, from the tenants’ and investors’ point of view, such properties will have strong priority compared to ordinary office buildings in near future already.”
“Baltic real estate market becomes attractive for investors again. Economies show signs of stable recovery and all the main fundamentals for real estate investing are in place. Last year there were € 260 m. Euro invested and this year we expect around € 300 m. Euro deals to be closed. On a contrary to some Scandinavian markets banks are still ready to finance sustainable investments in the Baltics and this enables to ensure liquidity of reasonable real estate products”, adds Ricardas Cepas, CEO of Newsec Baltics.
For further information, please contact:
Neringa Rastenyte, Head of transactions at Newsec Baltics
Tel. +370 686 17 468, e-mail: firstname.lastname@example.org
Niklas Alm, Communication Director
Tel: +46 (0)708 24 40 88, e-mail: email@example.com
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