{"id":104,"date":"2022-06-02T09:04:00","date_gmt":"2022-06-02T09:04:00","guid":{"rendered":"https:\/\/fredfund.eu\/pea-30-aastat-eesti-turul-tegutsenud-arendaja-kaivitab-uue-kinnisvarafondi\/"},"modified":"2022-11-29T09:19:20","modified_gmt":"2022-11-29T09:19:20","slug":"pea-30-aastat-eesti-turul-tegutsenud-arendaja-kaivitab-uue-kinnisvarafondi","status":"publish","type":"post","link":"https:\/\/fredfund.eu\/en\/pea-30-aastat-eesti-turul-tegutsenud-arendaja-kaivitab-uue-kinnisvarafondi\/","title":{"rendered":"A real estate developer with nearly 30 years of experience launches a new real estate fund"},"content":{"rendered":"<div class=\"wp-block-post-excerpt\"><p class=\"wp-block-post-excerpt__excerpt\">Founded in 1993, the Estonian-capital based real estate developer Favorte is launching a new real estate fund specialising in multifunctional stock-office type commercial property. The fund&#8217;s partners are Rainer Hinno, founder and owner of Favorte, and Riho Unt, former head of SEB Baltics. <\/p><\/div>\n\n\n<p>According to the fund&#8217;s founders, stock-office commercial properties that flexibly combine showroom, office and warehouse and\/or manufacturing space are rapidly gaining popularity in Estonia and the Baltics. &#8220;The stock-office concept has been largely developed with the Estonian business environment in mind. It allows small and medium-sized growth companies to streamline their operations and limit costs by bringing all work processes and employees under one roof,&#8221; explained Rainer Hinno, head of Favorte.<\/p>\n\n\n\n<p>According to Hinno, Favorte, with almost 30 years of experience, has for the past seven years been increasingly active in the development of stock-office type commercial properties, as demand has been growing. &#8220;Today, we have a wide range of companies operating on our commercial premises, from a manufacturer of environmentally friendly detergents to a provider of renewable energy solutions,&#8221; Hinno added.<\/p>\n\n\n\n<p>According to Riho Unt, partner of the fund, stock-office commercial property&#8217;s key advantage is sustainability. &#8220;All businesses want to be more efficient and economical in the way they do business, but this can sometimes be difficult for small and medium-sized players. A modern and multifunctional business space helps to reduce the environmental footprint, as well as limit the company&#8217;s running costs. This type of space is also highly flexible and adaptable to the business needs of the specific company,&#8221; said Unt.<\/p>\n\n\n\n<p>According to Tarmo Kalviste, head of the commercial real estate unit at the Colliers commercial real estate advisory firm, the demand for stock-office type properties remains strong. &#8220;The vacancy rate in the sector is less than 4%, which clearly shows that there is more demand than supply, and 90% of the buildings under construction find lessees even before they are completed,&#8221; Kalviste said. According to Colliers, more than 200,000 sqm of stock-office commercial properties have been built in Tallinn to date. The average building is 3,000 square metres, occupied by 7-8 tenants, and the lease ranges are between \u20ac6 and \u20ac13 per square metre, depending on the location. &#8220;We also see growing demand and development potential in this segment in Latvia and Lithuania,&#8221; Kalviste confirmed.<\/p>\n\n\n\n<p>The aim of the fund is to develop and subsequently sell 100,000 m<sup>2<\/sup> of stock-office commercial property, 50% of which will be located in Estonia and the other 50% in Latvia and Lithuania. The fund offers investors the opportunity to participate in the emerging commercial property sector, which is transforming the working environment of small and medium-sized enterprises. The fund&#8217;s structure combines expertise in the field with good financial transparency. Following the launch of the first development fund, a follow-up fund of \u20ac100 million with existing and cash-flow generating stock-office assets will be launched, mainly for professional financial investors.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founded in 1993, the Estonian-capital based real estate developer Favorte is launching a new real estate fund specialising in multifunctional stock-office type commercial property. The fund&#8217;s partners are Rainer Hinno, founder and owner of Favorte, and Riho Unt, former head of SEB Baltics.<\/p>\n","protected":false},"author":2,"featured_media":100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A real estate developer with nearly 30 years of experience launches a new real estate fund - Favorte<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fredfund.eu\/en\/pea-30-aastat-eesti-turul-tegutsenud-arendaja-kaivitab-uue-kinnisvarafondi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A real estate developer with nearly 30 years of experience launches a new real estate fund - Favorte\" \/>\n<meta property=\"og:description\" content=\"Founded in 1993, the Estonian-capital based real estate developer Favorte is launching a new real estate fund specialising in multifunctional stock-office type commercial property. 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