TARK advised Kala House OÜ on the acquisition of a real estate in the Luther Quarter located in the center of Tallinn. Tanel Tark, the managing partner of the law firm TARK, represented Kala House OÜ, which focuses on real estate investments, and aims to contribute to sustainable and unique real estate developments that affect the general urban space and have a broader positive impact on the development of Estonian urban areas.
Triple Net Capital OÜ in cooperation with the investment partner Kala House OÜ acquired the real estate of Luther Quarter located in the center of Tallinn at the beginning of February. Triple Net Capital, the developer of the quarter, plans to create a new and dignified living and working environment in the center of the capital by combining new and old architecture and building a large park on the property, which is especially suitable for start-up companies. Estonia’s Silicon Valley.
According to the new owner’s plan, 400 apartments and approximately 40,000 square meters of commercial real estate will be built on the Luther Quarter property. The property, known as the location of the former Luther plywood factory, is located in Tallinn by Pärnu maantee, Tatari and Vana-Lõuna streets and covers almost four hectares in total.
Estonian media coverage:
https://www.aripaev.ee/uudised/2021/02/11/hinrikus-ja-arendajad-plaanivad-tallinna-silicon-valleyt
https://www.city24.ee/et/kinnisvarauudised/15883/ajalooline-lutheri-kvartal-saab-uue-hingamise
