Purchase of Baltika Quarter
July 31, 2012
Kawe Group’s subsidiary OÜ Kawe Invest acquired from OÜ Baltika TP the Veerenni 24 property in Tallinn, known as Baltika Quarter. Value of the transaction was EUR 13.6 million.
Baltika Quarter consist of an office building with total area of 13 131 m2, built in 1960. Initially the large building was divided into two, office and production. The 10 209 m2, 5-storey production building was renovated into a modern office building in 2009. As an old manufacturing building, it is characterized by high ceilings. Baltika Quarter has received several architectural and design awards. The property has good parking facilities for both tenants and customers. The detailed plan of the 14 302 m2 of land is nearly completed and allows construction of additional buildings.
Today, there are 38 tenants in Baltika Quarter. The largest of these are AS Baltika, Ettevõtluse Toetamise ja Krediidi Haldamise Sihtasutus / Tallinna Loomeinkubaator (Business Support and Credit Management Foundation / Tallinn Business Incubators), The Division AS, Tank Group AS, Transferwise and many other advertising, design and IT-related companies.
Kawe Group intends to continue active management and development of the property.
AS Kawe Group