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EBRD invests €30 million in Baltic green property fund

By Dylan Bell

  • EBRD invests €30 million in Usaldusfond EfTEN Real Estate Fund 4
  • Fund to support investment in sustainable measures across the Baltic states
  • First property fund in the region to include climate considerations in its investments

The EBRD is supporting the growth of the first green property fund in the Baltic states with a €30 million equity investment in Usaldusfond EfTEN Real Estate Fund 4. The fund is the first in the region to adopt climate priorities and green objectives as integral aspects of its operational mandate.

The investment was signed today in Vilnius by Viljar Arakas, CEO of EfTEN Capital, and Vlaho Kojakovic, EBRD Director, Property and Tourism.

Usaldusfond EfTEN Real Estate Fund 4 was founded in October 2018 to invest in commercial properties across Estonia, Latvia and Lithuania. The fund primarily invests in office, retail and logistic facilities across the Baltic states. The private real estate equity fund was established in Estonia and is fully controlled by EfTEN Capital, the largest real estate fund manager in the Baltic states.

The fund will seek to benefit from the implementation of a comprehensive sustainability improvement programme in its investment properties. This will include infrastructure upgrades with advanced resource efficiency technologies but also behavioural change through the introduction of resource efficiency-focused facility management, engagement with building occupants through green leases as well as sustainability reporting according to globally recognised standards.

The EBRD’s investment will support EfTEN’s green agenda and assist the company as it delivers on its innovative climate-conscious investment strategy.

The EBRD has been working in the Baltic states since 1991 and has invested over €2.2 billion in 258 projects in Estonia, Latvia and Lithuania. Supporting investments in energy efficiency and developing the capital market are among the Bank’s priorities in these countries.

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