Radisson Collection Hotel is the first renovated building to qualify for SEB’s green loan

The renovated Radisson Collection Hotel, owned by EfTEN Kinnisvarafond II AS, has undergone a significant change and achieved energy class A. This is the first renovated building that qualified for SEB’s green loan.

Anu Arnover, Head of Real Estate Financing Department at SEB Corporate Banking: “The successful renovation of the Radisson Collection Hotel shows how sustainable development can be integrated into business ventures, leading to environmental and cost benefits as well as better financing conditions.” Arnover stressed that significant energy savings could also be achieved with the renovation of existing buildings.

The building was completed in 2001 and since 2015, the hotel belongs to the EfTEN Kinnisvarafond II portfolio. Our experience with the Radisson Hotel shows that significant energy savings can also be achieved when renovating old houses at reasonable cost. Therefore, obtaining an energy class A does not require the construction of new and often expensive buildings,” said Merle Purre, Head of ESG at EfTEN Capital. “EfTEN invested EUR 250 per square metre in energy efficiency of the building, and in addition to energy savings, we also achieved savings in interest costs through the green loan,” Purre added.

“This financing also confirms SEB’s commitment to promoting sustainability in the real estate sector. We will continue to support the renovation of existing buildings to high energy efficiency standards, thereby contributing to the reduction of carbon emissions and the preservation of natural resources,” Arnover stated. “We believe that by supporting such initiatives, we can encourage more companies to prioritise sustainability in their activity.”
The renovated Radisson Collection Hotel corresponds to five stars and offers a number of high-end services, including hotel rooms designed by Estonian designers, a SPA complex, 1000 square meters conference centre and two top restaurants. The hotel’s interior features sustainable solutions, such as embossed carpets in corridors remanufactured from old fishing nets and photos of photographer Kristoffer Vaikla on the walls of the rooms, which introduce Estonia through 12 different themes.

EfTEN Kinnisvarafond II AS is a real estate fund, founded in 2015, that invests in cash-flow generating commercial real estate in the Baltic States. EfTEN Capital AS manages seven real estate funds operating in the Baltic States with 64 commercial buildings holding a market value of 1.1 billion euros.
 

More information:
 
Katre Kärner
Communications Manager
Business Customers Area
SEB Pank
 
Telephone +372 5560 9962 
Tornimäe 2, 15010 Tallinn
katre.karner@seb.ee  
www.seb.ee