December 12th, 2007
SRV has sold to Evli a property in Estonia
SRV International Oy, which belongs to SRV Group Plc, and Evli Bank Plc's real estate equity fund EPI Baltic I Oy have signed a sales agreement concerning a land plot in Estonia and the business premises that SRV builds there for AS Oriola. The value of the transaction is five million euros.
The plot, about 11 000 m2 in size, is situated in the town of Saue, 15 km from Tallinn centre. The gross area of the premises under construction is 4,300 m2, including 1,400 m2 of office and 2,900 m2 of logistics premises. Construction works are at their last stage and the premises will be put into use at the end of 2007. AS Oriola is an Estonian subsidiary of the Oriola-KD Oyj who has a lease agreement for these business premises for 5 + 5 years.
The Saue property is the result of the SRV's property development practice. The signed agreement is a good example of SRVs business premises concept development in the Baltic countries and in Russia and Finland as well, says Ari Beilinson, Managing Director of SRV International Oy. SRV has developed earlier in the Saue area properties for such companies as Paulig, Wihuri and Plastone.
SRVs target is to increase the share of developer contracting projects both in the Baltic countries and Russia. At the moment SRV is developing in Estonia, near the recently sold land plot, ? new modern and cost-effective logistics centre of A-class, which can be modified depending on customers needs and used for a long-term lease. The plan is to start construction works in the early spring 2008.
SRV International Oy is a part of SRV Group and operates as a real estate developer and a project management contractor in the Baltic countries and Russia. SRV International specialises in the development and construction of commercial premises, offices, hotels, and various industrial and logistics facilities.
Evli Property Investments Ltd (EPI) is a fully-owned subsidiary of Evli Bank Plc that invests in property by way of real estate funds. Through its funds, EPI offers institutions and private individuals an opportunity to invest in diversified real estate portfolios managed by experts. Evli launched Finland's first real estate equity fund, EPI Baltic I Ltd, in April 2005. EPI's second real estate equity fund, EPI Russia I Ky, began operations in summer 2006 and the third one, EPI Healthcare I Ky, in summer 2007.
SRV International Oy
Juha Metsäntähti, Project Director
Phone: +358 40 505 6371
Evli Property Investments Oy
Maria Söderman, Investment Manager
Phone: +358 9 4766 9348
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