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RNS - Hepsor AS and EfTEN Special Opportunities Fund’s joint venture Hepsor SOF OÜ acquired two new properties at Lasnamäe

Company: Hepsor Date: 2025-07-22 Language: English Register to download

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 Hepsor AS and EfTEN Special Opportunities Fund’s joint venture Hepsor SOF OÜ acquired two new properties at Lasnamäe

# Hepsor AS and EfTEN Special Opportunities Fund’s joint venture Hepsor SOF OÜ acquired two new properties at Lasnamäe

Hepsor  AS and  EfTEN Special  Opportunities Fund's  joint venture Hepsor SOF OÜ
entered  into a real right contract on 21 July 2025, acquiring the properties at
Narva  mnt 150 and  Narva mnt  150a. The properties  were purchased  from Hepsor
Group company N450 OÜ. The value of the transaction is EUR 6.3 million, to which
VAT  will be added.  Hepsor will generate  a profit of  EUR 2.8 million from the
sale  of the properties, of which EUR  1.4 million will be realised in the third
quarter of this year.

The  purchase of the properties is part  of a cooperation project between Hepsor
and  EfTEN in Lasnamäe,  Tallinn, within the  framework of which properties were
previously  acquired, on  11 April 2025, at  Paevälja pst  5, 7 and 9. The joint
development project between Hepsor and Eften will see the construction of around
300 homes  and, to a lesser extent, commercial premises. The development will be
carried  out in three stages,  each of which will  deliver around 100 new homes.
The first stage of construction is scheduled to begin in 2026.

The  development area of Paevälja and Narva mnt is a larger development area for
Hepsor.  In  2023, Hepsor  completed  the  Paevälja courtyard houses development
project in the same area, within the framework of which a total of 100 new homes
were  built in the area during stage I. Hepsor will build a total of around 500
new homes and 4,200 m² of rentable commercial space in the development area as a
whole.

For the development area as a whole, two landmark events have taken place in the
last 6 months. In December 2024, the detailed plans for Paevälja pst 5, 7 and 9
were approved and in May 2025, the detailed plans for Narva mnt 150, 150a, 150b
and  Alvari tn  1, 1a, 3, 5 and the  surrounding area  were approved.  This will
create an opportunity for Hepsor to build an additional 400 homes in the area.

The Lasnamäe district is comparable in population to the city of Tartu and forms
one  of the  most densely  populated residential  areas in  Estonia. Development
competition  in the area is low, which makes the project strategically important
and commercially attractive for Hepsor.

'The  cooperation with  EfTEN will  allow us  to bring  a new quality of life to
Lasnamäe  and at the  same time strengthen  the capital structure  of the Hepsor
Group.  EfTEN is a  reliable and professional  partner, whose long experience in
property investment adds strategic weight to the project,' explained Henri Laks,
Chairman of the Management Board of Hepsor.

Henri Laks
Member of the Management Board
Tel: +372 5693 9114
E-mail: \[email protected\] (mailto:\[email protected\])

Hepsor  AS (www.hepsor.ee)  is a  developer of  residential and  commercial real
estate.  The Group operates in Estonia, Latvia, and Canada. In fourteen years of
operation,  we  have  created  2,076 homes  and nearly 36,300 m(2) of commercial
space.  Hepsor is the first developer in the Baltic States to implement a number
of  innovative  engineering  solutions  that  make  the buildings it builds more
energy  efficient  and  thus  more  environmentally  friendly. The company has a
portfolio of 25 development projects with a total area of 172,800 m(2).

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