SEB will finance the real estate development of Arter Quarter  with €85 million

SEB Pank signed a €85 million loan agreement with Arter Kinnisvara, belonging to the Kapitel group, for financing the construction of the  Arter Quarter  in the Tallinn city centre. The total investment of Kapitel in the Arter Quarter  extends to nearly €155 million and the project will be completed in Q3 2024.

According to Artjom Sokolov, the Head of SEB Corporate Banking and member of the Management Board, the business district Arter is one of the most attractive and exclusive developments in Tallinn city centre in recent years. “With such developments, we promote the creation of a modern, multifunctional and energy-efficient working and living environment in Tallinn city centre. Financing larger real estate projects has been in focus at SEB through times and we are pleased that there are companies in Estonia whose ambition and vision to make our living environment more attractive, coincide with the principles and values of SEB,” Sokolov said.

According to Rait Pallo, member of the Management Board and CFO at Kapitel, the Arter Quarter  with its 155-million total investment is the biggest development project of the company and good and reliable partners are key to its success. “We believe that the prime working environment together with the necessary daily convenience services is increasingly important for businesses both in retaining the existing professionals and recruiting new talents,” Pallo added.

The Arter Quarter consists of 28-, 15-, and 9-storey buildings and a connecting central building with a multi-storey car park. The quarter will include 29,000 m² of high-quality office space, 6,000 m² of various catering and service space, 3,000 m2 of rental apartments, roof terraces and public park. The near zero energy buildings are  designed and built according to the Excellent level of  the international BREEAM standard. Green energy solutions of the quarter  will be secured by a combination of energy piles and district heating and cooling.

The architect of the quarter  is Martin Aunin, the interior architect Arhitekt11, the main contractor is Merko Ehitus Eesti. Among other things, the district will have a total of 470 parking spaces and an indoor bicycle parking area with more than 100 spaces.Founded in 1997.

Kapitel is one of the largest real estate companies in the Baltics with more than 244,000 m² of leasable commercial space in its portfolio.SEB is a leading Nordic group of financial services, providing a broad range of financial services and advisory services in Sweden and the Baltic States.