Colonna purchased an office building in Haabersti

Colonna, an investment company specializing in commercial real estate, has purchased an office building on Meistri street in Haabersti city district, Tallinn. One of the most prominent tenants at this address is Café Lyon on the first floor.

Completed in 2011, the office building at 22 Meistri street features a total of 5500 square meters of office space with approximately 25% of it vacant at the moment.

According to Colonna’s CEO Roberto De Silvestri, the new owner intends to invest in the general renewal of the building and complete the interior construction of currently vacant rental spaces, taking tenants’ preference into account. “Meistri 22 is an office building in a good suburban location, where tenants can pay a considerably lower rent compared to the city center, and utility costs are reasonable as well. Becoming an addition to Colonna’s portfolio will provide this building, in which the interior construction of some interior spaces has not been completed, with a new financially sound owner which will be able to make the necessary additional investments and ensure high-quality management services,” Silvestri stated.

There is a total of 1300 square meters of vacant rental spaces in the office building at Meistri 22 at the moment, the smallest offices starting at 50 square meters, and solutions in a variety of sizes and layouts are available to prospective tenants.

Roberto De Silvestri says that Colonna is still interested in further opportunities of investing in commercial spaces that ensure continuous cash flow.

Founded in 2006, Colonna investment company is one of the largest investors in commercial real estate in Estonia and the Baltic States. Colonna primarily brokers the investments of international professional investors in real estate projects located in the Baltic States and manages the commercial operation of the purchased properties. Over 300 million euros have been invested in the Baltic real estate market through Colonna Group. The company’s portfolio comprises 92 commercial buildings with a total of 250,000 square meters of rentable space and 566 tenants. Colonna is an active contributor to charity projects and supporter of sport and culture.