EPI Baltic I leases De La Gardie shopping center to Lindex in Tallinn

* Evli’s real estate equity fund EPI (Evli Property Investments) Baltic I, has signed a long-term lease agreement with Swedish fashion clothing chain Lindex related to the De La Gardie shopping center in Tallinn.
The lease covers three floors of premises which constitute most of the building’s approx. 2100 m2 rentable area. Lindex also has an option to lease premises on the top floor of the shopping center when they become vacant later.

The De La Gardie shopping center, completed in 2000, is located in Viru Street, one of the busiest shopping streets in Tallinn’s old town. EPI Baltic I acquired the property in July, 2006.

“Our plan when we acquired the property was to develop it and increase cash flow through tenancy changes. The location of the property is excellent commercially and considerable interest had been shown in renting it. Lease negotiations were carried on with several parties. The lease signed with Lindex fully supports our strategy to develop this property,” says Maria Söderman, Investment Manager at Evli Property Investments Ltd, the fund’s management company.

Founded in April 2005 as the first Finnish real estate equity fund, EPI Baltic I invests in the Baltic real estate market. The fund was closed finally in December 2005 when its equity commitments reached the preset EUR 50 million maximum.

EPI Baltic I owns five properties in the Baltic countries. The fund owns a commercial building in the center of Vilnius, a production facility in the municipality of Saku outside Tallinn, the De La Gardie shopping center in Tallinn, a logistics facility in Tallinn and Rautakesko’s K-Rauta hardware store in Tallinn. The portfolio manager of EPI BalticI is Catella Property Oy.

Further information :

Maria Söderman, Investment Manager
Evli Property Investments Ltd
tel +358 9 4766 9348

Petteri Nurminen, Managing Director
Evli Property Investments Ltd
tel +358 9 4766 9271
www.evli.com 

EVLI BANK PLC

Evli Bank Plc is an independent investment bank whose clients are entrepreneurs, corporate executives and investment pro-fessionals.

Evli was established in 1985, and has ever since been a pioneer and trailblazer in the rapidly developing capital markets. Evli owes its leading position to its strong expertise and experience, and its ability to find new solutions for clients in fluctuating markets.

Evli's primary market is the Baltic Sea region. In this area, the company operates in Finland, Sweden, the Baltic countries and Poland.
Evli also has offices in Luxembourg and through its joint venture Nordic Partners, Inc. in New York.

In order to create the maximum added value for its clients, Evli builds long-term relationships based on mutual trust.

Evli Group's equity capital totals EUR 68,5 million and the BIS capital adequacy ratio stood at 16,0% on 30 September 2007. Evli Group employs approxi-mately 370 people.