On 31.03.2025, EfTEN Hiiu OU finalized a transaction by which a subsidiary of the fund acquired real property located at Hiiu 42 in Tallinn from Sudamekodu AS.
The fund notified the Estonian stock exchange of the conclusion of a contract of sale under the law of obligations on February 20, 2025. According to EfTEN, “all the agreed preconditions for the transfer of ownership and the conclusion of a real right contract have as of now been met.”
The North Estonia Medical Center will continue to use part of the property under a lease agreement. A long-term lease agreement for the remaining part was entered into with Hiiu Sudamekodu OU, a subsidiary of Sudamekodud AS, and, in cooperation with Hiiu Sudamekodu OU and Sudamekodud AS, the building will be partially rebuilt into an elderly care home which will eventually accommodate up to 170 Sudamekodu clients.
Image source: www.newwavehomecare.com