LHV and BPT Real Estate entered into a management contract for Valge Maja

17Feb

BPT Real Estate and LHV Pension Funds entered into a contract for the management of Valge Maja office building situated at Tartu maantee in Tallinn. The five-storey office building has 16,360 square meters of enclosed net floor area and its tenants include Mack Bar-B-Que, sewing accessory and fabric stores Karnaluks and Abakhan Fabrics, and IT companies Webhelp, Genius Sports Services and Nets Estonia.

According to Janek Hintsov, CEO of BPT Real Estate AS, the addition of the building situated at Tartu maantee 63 among the company’s clients is a great honour and the management company has a duty to work for the well-being of the client and their tenants.

He adds that BPT Real Estate offers a strategic partnership with a diverse range of services. “We design an optimal and personalised solution for each client and offer bold and out-of-the-box solutions to help preserve and increase the value of the client’s investment. We are a partner for real estate investors, owners and tenants alike.”

Valge Maja, transformed from a former Marat knitwear plant into an office building, has preserved all the features characteristic of a former production facility such as spacious rooms, high ceilings and ample glass surfaces. All this offers contemporary and comfortable office, retail or service spaces for many businesses, because in addition to a striking facade, the building’s utility systems and public spaces have also been modernised in the course of the renovation.

The Valge Maja office building was recently added among the assets of LHV Pension Funds. According to Rait Riim, Head of Real Estate Investments at LHV Pension Funds, investments are made in real estate because sites with a strong tenant structure in valued locations ensure long-term returns across economic cycles. Additionally, the Pension Funds own the Microsoft office building in TalTech research campus and 127 rental apartments in Lumi Homes in the North-Tallinn district. Another 164 rental apartments are awaiting a building permit at Mustamäe tee in Tallinn and are expected to be completed in the fourth quarter of 2021.

BPT Real Estate, a full-service commercial real estate company, manages the largest shopping centres and office buildings in Estonia, Latvia and Lithuania and has offices in Tallinn, Riga and Vilnius.

LHV Pension Funds are managed by AS LHV Varahaldus. LHV Pension Funds have more than 170,000 clients. LHV offers both actively and passively managed II and III pillar pension funds, totalling over 1.3 billion euros.