EfTEN Tähesaju tee OÜ, a subsidiary of EfTEN Real Estate Fund III AS, signed the
general construction agreement with Mitt & Perlebach OÜ for the construction
works of the Hortes Gardening Centre in Tähesaju commercial district in Tallinn.
The construction works have been started and the planned date of completion of
the centre is at the end of April 2019. The single tenant of the gardening
centre is AS Hortes occupying the entire building. The new Hortes Gardening
Centreis planned to be opened on the 1(st)of May 2019. The total investment to
the project is approximately 5,54 million euro, plus VAT. According to the lease
agreement the net yield of the investment, without bank leverage, is 8,5% per
annum after the center has been completed.
Viljar Arakas
Member of the Management Board
Phone: 655 9515
E-mail: viljar.arakas@eften.ee
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