Estonia, Investments, Real Estate

"This is a usual development in the world of real estate, when owners wish to invest in larger markets such as Germany," said Aavo Kokk, manager of the Catella company that organizes the sale. "It would be difficult to see a hint to a change in the business environment of Estonia in this, and as the organizer of the transaction I cannot disclose more details," Kokk said.

Catella is also on the lookout for a buyer for the buildings situated at Parnu Road 4 Paneeli 2 and Suur-Sojamäe 35, as well as a few less attractive properties. According to Postimees sources the owner wishes to divest all the properties as a package.

Postimees has learned that the owner hopes the thoroughly reconstructed former central post office, Postimaja, to fetch approximately 30 mln euros.

The state owned postal company Eesti Post sold the building to the Swedish investors in 2010 for eight million euros.