East Capital Real Estate strengthens its position in sustainability with three new BREEAM certifications
East Capital Real Estate is the first company in Estonia to have certified an industrial property by Building Research Establishment's Environmental Assessment Method (BREEAM). In total, East Capital Real Estate has certified six properties. Company aims to certify its entire real estate portfolio.
The three properties that have been certified are Bauhof sales centre and two industrial properties in the Tallinn area. BREEAM is one of the oldest and most established environmental certification systems and has been used to certify over 500,000 buildings.
According to Albin Rosengren, Partner at East Capital Group and head of East Capital Real Estate, the certificates do not merely increase the attractiveness of the investments and the value of the portfolio, but also provide strong evidence of the property's suitability as a workplace. “This is because the evaluation puts high demands on factors related to the health and well-being of those who visit the building on a daily basis. There has been a clear trend in the market for a couple of years, where potential tenants prefer sustainable and green properties for their businesses. For investors, therefore, compliance with such requirements and obtaining certificates increases both the attractiveness and reliability of the property portfolio or the specific location," explained Rosengren.
According to Madis Raidma, CEO of East Capital Real Estate, East Capital is planning to update its portfolio within the next few years, so that all buildings comply with the higher requirements of the BREEAM sustainability certificate. In the first half of 2020, East Capital Real Estate obtained a green certificate for Hilton Tallinn Park Hotel, which was the first hotel in Estonia to receive an "In-Use Very Good" rating from BREAAM, and for the A13 and Metro Plaza Office Buildings.
According to Erkki Seinre, responsible for the certification of the Niidu road 1 and 3 industrial buildings, the main advantages enjoyed by the complex were land use, large proportion of green areas and accessibility both by public transportation as well as bicycle. In addition, the buildings provide a good indoor climate for the workers. Certifier Margus Tali, responsible for the certification of the Bauhof sales centre, confirmed that the building received high evaluations across all nine categories, with outstanding results being achieved in the well-being of users, waste management, accessibility, and energy use.
About East Capital Real Estate
East Capital Real Estate is a leading real estate manager that focuses on commercial real estate investments the Baltics and Central Europe, primarily in the office, logistics and retail segments. We manage four funds and one investment mandate, with a total property value of EUR 480 million, distributed across 22 properties with a lettable area of 373,000 square metres.
East Capital Real Estate is part of East Capital Group − an independent asset management group that comprises several strategies and specialisations to offer active management solutions in equities, bonds and real estate assets with a clear ESG framework. Founded in Sweden in 1997, East Capital Group manages a total of EUR 4.5 billion for a broad range of international investors including leading institutions, companies and private individuals.