Estonia, Real Estate

According to the company, the buyers are investors entering Estonian commercial real estate for the first time.

"In recent years, we have developed a new type of small logistics and commercial building concept in the Estonian commercial real estate market, which we call LoftOffice. There is a clear market demand for such commercial space, we believe in the success of the concept and we will continue development in this area," Allan Kool, member of the supervisory board of Hammerhead OU, said. 

Kool added that the entry of foreign investors into the Estonian commercial real estate landscape has not been a common phenomenon in recent years. "In the interests of liquidity in the commercial real estate market, this addition is very much needed," he noted.

Restate Property Advisors OU advised on the portfolio transaction with a total volume of 15,000 square meters and a price of over 21 mln euros.