Conclusion of contract under law of obligations
On 15 December 2021, Hepsor N170 OÜ, an associated company of Hepsor AS, and Lumipood OÜ signed a sale-purchase agreement for the sale of approximately 1,500 square meters of commercial space. Rental agreement for the commercial space located on the first floor of a soon-to-be-competed 11-storey commercial and residential property at Priisle 1 in Tallinn has been signed with Selver AS. The transaction cost is approximately 2.7 million euros, which will be paid upon concluding the real right contract.
Hepsor AS has a 25% stake in Hepsor N170 OÜ, its associated company.
“Significant interest in Priisle 1 commercial space characterizes commercial real estate market as a whole. We chose the best possible partner with long-term vision for the commercial space of an excellent location and strong anchor tenant,” said Henri Laks, Member of the Management Board of Hepsor AS.
Lumipood OÜ is a subsidiary of a commercial real estate investment fund managed by Lumi Capital. “Priisle 1 commercial space is the fund's seventh similar investment. Our strategy is to invest in grocery stores conveniently close to home for the customer, "commented Lauri Henno, Fund Manager at Lumi Capital.
Hepsor and Lumi Capital in cooperation with LHV pension funds have previously developed two rental houses with 127 apartments in the Manufaktuur quarter in Tallinn.
Priisle Kodu is an 11-storey commercial and residential property development project that will be completed in the second quarter of 2022. Out of 76 apartments 68 have been pre-sold.
More information about Priisle Kodu can be found at https://hepsor.ee/priislekodu/
Head of Investor Relations
Phone: +372 5615 7170
Hepsor AS (www.hepsor.ee) is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia. Over the last ten years Hepsor has developed more than 1,300 homes and 15,000 m2 of commercial space. Hepsor has been the first real estate developer in the Baltic States to implement a number of innovative engineering solutions that make the buildings we construct more energy-efficient and thus more environmentally friendly. The company's portfolio is comprised of 22 development projects with a total sellable space of 140,000 m2 .