Capital Mill logo

Category: Uncategorized

Capital Mill begins construction of the Laaneserva residential area in Viimsi Rural Municipality

This Monday, Capital Mill began construction of the Laaneserva residential area in Haabneeme Village, Viimsi Rural Municipality, where construction of new homes for a total of 36 families in a beautiful and private area will be completed by the end of summer 2024. This is a major residential development project for Capital Mill, which has previously focused on commercial real estate investments.

‘Capital Mill’s expansion into the field of residential development has got off to a successful start – sufficient interest has been shown towards the future residential buildings of Laaneserva, and the first bookings for terraced houses have also been made. This positive emotion offers a good place to start actual construction activities at the beginning of July. Located in a peaceful scenic area, and only a few minutes’ drive from the Viimsi Keskus shopping centre, the Laaneserva development presents a very attractive opportunity for a future home,’ said Kaarel Loigu, CEO of Capital Mill.

According to Kaarel Loigu, the terraced houses of Laaneserva – located inside a patch of forest and separated from each other by a courtyard – offer ample peace and quiet. The façade solutions and materials used in the buildings fit in well with the surrounding natural environment.

Particular attention has been paid to privacy with the placement of the buildings in the Laaneserva development, as the L-shaped buildings help to create a cosy and quiet courtyard with a play area offering activities for children of all ages. Consequently, the locations of the terraces are also in different directions relative to each other, granting maximum separation to future homeowners while allowing them to spend time privately with their families. The author of the architectural solution for the buildings is architecture firm AB Panda.

In May, construction company NOBE signed a contract for services with companies under the management of Capital Mill for the construction of four terraced houses, where a total of 36 terraced house sections will be built at the addresses Laaneserva tee 6, Laanelinnu tee 5, Laaneserva tee 8, and Laanelinnu tee 7 in Viimsi Rural Municipality. The total cost of the construction works is approximately EUR 6.8 million, excluding VAT.

Capital Mill is also active in the field of residential development with the Luise 13, Väike-Taani, and Jakobi 17 development projects.

Gallery: https://bit.ly/3InzFYH

Capital Mill awarded a self-titled scholarship

Last week, we awarded our first self-titled scholarship to Annemari Tatra, a Master’s student at Tallinn University of Technology!

In Annemari’s case, her will to continuously develop herself, offering her own solutions and new ways of thinking, became a decisive factor. Her clear interest in being a part of constructing sustainable and environmentally friendly buildings is a sign of a true forward-looking future big name.

The Capital Mill scholarship was intended for one successful Master’s student at Tallinn University of Technology’s Faculty of Engineering (Faculty of Buildings and Facilities). The amount of the scholarship is 3,000 euros and the support is allocated through the TalTech’s Development Fund.

NOBE will be building Capital Mill’s first residential area

Capital Mill signed a contract with NOBE, a construction company belonging to Nordecon Group, for the construction of the Laaneserva residential area in Viimsi municipality. A total of 4 terraced houses will be completed by mid-2024. This is the first major residential development project of Capital Mill, which has until now focused on commercial real estate investments.

On Thursday, NOBE signed a contract for services with companies under the management of Capital Mill for the construction of four terraced houses, where a total of 36 terraced house sections will be built at the addresses Laaneserva tee 6, Laanelinnu tee 5, Laaneserva tee 8, and Laanelinnu tee 7 in Viimsi municipality. The total cost of the construction works is approximately 6.8 million euros without VAT, and according to the contract, the works will be completed in the spring or summer of 2024.

‘Capital Mill entered the field of housing development with a very promising project – the Laaneserva residences will be built in a beautiful and tranquil area in the village of Haabneeme, where there is enough privacy on the one hand, and at the same time, there are various supporting opportunities and services for families nearby, e.g., restaurants, kindergartens, sports tracks, bus stops, and commercial activities,’ stated the CEO of Capital Mill, Kaarel Loigu. ‘The goal of the Laaneserva development is to offer unique 4-room terraced houses with spacious layouts, which take into account the surrounding greenery and fit well into that environment with their façade solutions and use of materials.’

According to Kaarel Loigu, Capital Mill is also active in the field of residential development with the development projects of Luise 13, Väike-Taani, and Jakobi 17.

‘It is a pleasure to begin initial cooperation with an experienced real estate developer such as Capital Mill. In the case of the Laaneserva terraced houses, it is clear that all the important aspects of housing construction have been thoroughly thought out by the developer at an early stage, and they meet the modern standards and expectations of future homeowners. We believe that NOBE’s many years of experience in residential construction will ensure smart construction solutions, fast home completion, and lasting quality,’ said Board Member and Construction Director of NOBE, Priit Nigols.

Special attention to privacy has been paid in seeking an exact location for the Laanserva development, and the L-shaped buildings will help create a cosy and quiet courtyard with a play area, where there are multiple activities for children of all ages. As a result, the locations of the terraces are also facing multiple directions, allowing the future homeowners enjoy privacy in spending time with their family. The author of the architectural solution of the buildings is the AB Panda architectural bureau.

Capital Mill is a company founded in 2008, it is focused on investment in commercial buildings and residential development located in the Baltic countries, the size of the portfolio reaches 500 million euros today. The company’s entire team has long-term experience in the field of real estate development. Under the management of Capital Mill are numerous highly valued real estate objects in Estonia, Latvia, Lithuania.

NOBE, or Nordecon Betoon OÜ, is a company engaged in general construction, contracting, and concrete work since 2000, offering a full construction service from design to building completion. Complex engineering buildings, office and production buildings and residential buildings are built under the supervision of NOBE engineers in Estonia, Finland, and Sweden. NOBE employs nearly 160 people.

Photo gallery: https://bit.ly/3InzFYH 

Capital Mill backing the classical music festival – Odessa Classics Tallinn

There’s nothing like music and culture to unite people and bring more light into this world!

It’s the second year in the row that he biggest Ukranian classical music festival – Odessa Classics –  has been held in Tallinn because of the inequities and turmoil happening back at home. Estonian promoters, as well as Estonian public and sponsors have lent a helping hand to help the tradition continue. It is the privilege for Capital Mill´s team to be one of the sponsors of Odessa Classics Tallinn. We are happy to invite you all to take part in one the spectacular concerts ahead.

The Odessa Classics’ opening gala is held on May, 25th in the concert hall Estonia. The festival events, however, are taking place in different venues all over Tallinn, such as Viimsi Artium, Fotografiska, Arvo Pärt Centre and Heino Eller’ Music School. The performers representing six countries, including our young bright talents, are ready to take the stage. Just find a concert dear to your heart and see you there. See it as your way of showing support to Odessa, the birthplace of the festival, and your contribution to building up international cultural ties between our countries. See the full programme here

Capital Mill have received the Sports Friend 2023 title

The Ministry of Culture together with EOC have announced the laureates (both private persons and organisations) of Sports Friend 2023 title. This year the title was awarded to Alexela, Capital Mill, CF&S ESTONIA, Jetoil, E-Piim, Rimi Eesti, Lõunakeskus, Mr. Anders Anderson, Mr. Jüri Käo, and Mr. Mart Lajal.

The Sports Friend award was founded in 2019 by the Ministry of Culture and Estonian Olympic Committee in order to acknowledge the rendered support. The title is a way to show gratitude to all those who made a sizeable contribution to the area of either professional sports or health-promoting training, supported the organization of sporting events thus promoting a healthy and active society.

Thanks to Estonian Wrestling Federation for doing the main work!

Press release: Capital Mill received the Smart Contracting Entity 2022 award at the annual construction sector conference

Capital Mill, the leading real estate developer in the Baltic States, received the Smart Contracting Entity 2022 award issued by the Ministry of Economic Affairs and Communications for the construction of the unique Skyon business and office building at the most important annual conference of the construction sector, Ehitus 2023+.

‘The Skyon building is an excellent example of how well-thought-out terms of reference and the trust and successful cooperation between the team lead to a high-quality and outstanding building. I am happy to see that there are visionary architects, innovative engineers, experienced builders, and smart contracting entities in Estonia. We must work to ensure that value-based procurement becomes standard practice in both the private and public sectors,’ said Minister of Economy and Infrastructure Riina Sikkut.

‘For Capital Mill as the developer, building Skyon in the heart of Tallinn was a responsible task, as we wanted to create a truly special building – a unique and exemplary landmark in its integrity and environmental friendliness. We succeeded, and that is probably why Skyon caught the eye of others in the construction industry. I want to thank everyone who contributed to Skyon and who voted for Capital Mill in the Smart Contracting Entity competition,’ said Silver Neemelo, Chief Construction Manager of Capital Mill.

The purpose of the Smart Contracting Entity competition is to inform society about the importance of a smart contracting entity in the development of the construction sector in Estonia and to value the contracting entities who contribute to this.

Built in accordance with the requirements of the LEED Platinum standard, the 26-story Skyon building uses a number of smart technological solutions that make it sustainable and environmentally friendly. Nearly 900 coloured glass panels of different shapes and sizes give a unique look both for the interior and exterior of the building, but at the same time take into account the distribution of light throughout the day. The façade protects against excessive solar radiation, while allowing the people in the building to enjoy the view of the city.

The digital operator created by R8 Technologies helps to save energy and money spent on heating and ventilation as it uses cool night air for pre-cooling during the warm summer months and reduces the amount of energy spent on ventilation, cooling, and heating when employees are at home. All technical systems are remote controlled.

The architectural solution of Skyon was created by KOKO architects and the building was built by Tallinna Ehitustrust.

Capital Mill is a company established in 2008, which is focused on investment in commercial buildings located in the Baltic States. Its current portfolio reaches 500 million euros. The founders and partners of the company are a team with long-term real estate and banking experience. Capital Mill manages a number of highly regarded commercial buildings in Estonia, Latvia, and Lithuania.

 

Photos of Skyon, photographer Kaupo Kalda: https://bit.ly/3GXOgKE

 

Additional information:

Silver Neemelo

Chief Construction Manager of Capital Mill

Silver.neemelo@capmill.eu

+372 5343 5040

 

Press release: Capital Mill expanded AI-based energy management in its real estate portfolio

The expansion of the cooperation between Capital Mill, the leading real estate developer in the Baltic States, and R8 Technologies, a technology company, enables the management of various objects in Estonia, Latvia, and Lithuania at a new green level with the help of artificial intelligence-based energy management, bringing with it significant energy savings.

‘We have been enjoying the smart and environmentally friendly solutions offered by the R8 Digital Operator in the Skyon office building with our tenants for more than a year. Pursuant to the new cooperation agreement, we will further expand the use of R8 artificial intelligence in our real estate portfolio and bring three objects in Estonia, two in Lithuania, and one in Latvia to a new green level,’ said Kaarel Loigu, CEO of Capital Mill.

According to Kaarel Loigu, Capital Mill is currently using the R8 digital operator to manage a total of approximately 38,000 square metres of rental space on four sites.

‘The R8 energy management technology, which can be quickly implemented in every commercial building, improves the indoor climate of buildings and helps to save on energy costs,’ said Siim Täkker, CEO of R8 Technologies. ‘It is a digital operator whose experience grows as a result of continuous development activities of top scientists. It not only collects various data, but uses it for smart energy management of the building around the clock, providing a tool to meet increasingly strict green requirements.’

Siim Täkker added that the Capital Mill buildings are technically advanced, making it easy to interface the R8 Digital Operator working on the basis of artificial intelligence. In this way, the energy management tool offers the greatest effect to both the building manager and the tenants.

Capital Mill is a company established in 2008, which is focused on investment in commercial buildings located in the Baltic States. Its current portfolio reaches 500 million euros. The founders and partners of the company are a team with long-term real estate and banking experience. Capital Mill manages a number of highly regarded commercial buildings in Estonia, Latvia, and Lithuania.

R8 Technologies is a technology company which is focused on the energy and real estate sectors. R8 Technologies has created intelligent energy management software for buildings, which is easy to use, quick to install, and does not require additional investments. The R8 Digital Operator is an artificial intelligence that controls the technical systems of modern commercial buildings, keeping in mind three main parameters – better indoor climate, higher energy efficiency, and longevity of technical systems. The average energy saving achieved by the R8 Digital Operator is more than 20%.

Additional information:

Kaarel Loigu

CEO of Capital Mill

kaarel.loigu@capmill.eu

+372 503 2845

 

Press-release: A birthday party at Tornimäe! Daniel Levi, Henrik Kalmet, and Kristjan Järvi got the crowd going

For the Skyon skyscraper’s first birthday, a lively yard party took place, offering delightful music, delicious food and most importantly – fun and food for thought. The crowd gathered at Tornimäe was entertained by several well-known performers.

The renowned conductor and composer Kristjan Järvi and Henrik Kalmet shared inspiring thoughts on executive work. ‘How to inspire through leadership? It is easy to complain and not bother – it pays to be the role model who goes, does, and takes risks. Creating a team atmosphere, share laughter and positive energy – this is something everyone wants to be part of,’ said Järvi.

The CEO Capital Mill, the building’s developer, Kaarel Loigu joined the company briefly before the opening of the building, which is why the birthday is an even more important event for him. ‘You could say that I found myself in the epicentre immediately when I joined the company – exciting times were ahead for both me and my colleagues in connection with my new position and the opening of the building. In my eyes, Skyon is definitely one of the flagships in real-estate development, and I believe I am speaking for everyone working in the building when I say that we are proud of the green solutions that have been implemented. Environmentally friendly standards also helped us get closer to the LEED Platinum certificate we were able to hang on our wall in April,’ said Loigu.

Daniel Levi trio and DJ Fieldz took care of the music, setting the mood in the courtyard in the heart of the city. Anyone who wanted, received the opportunity to participate in the house tour and see what has been done with the building from an environmental point of view. Food trucks provided delicious food for all guests.

Capital Mill OÜ was founded in early 2008 to help investors looking to acquire commercial real estate in Baltic countries and generate value through high-quality property management services. The founders and partners of the company comprise a team with long-standing real-estate and banking experience. Capital Mill manages are numerous highly valued commercial buildings in Estonia, Latvia, and Lithuania.

GALLERY (Karli Saul): https://bit.ly/3Ahe53n

Additional information:

Kaarel Loigu

CEO of Capital Mill

kaarel.loigu@capmill.eu

+372 503 2845

Press release: The embedding of a time capsule marks the inauguration of a Logistics Centre expansion project implemented by Capital Mill

In cooperation with the developer and investor Capital Mill, an inauguration ceremony for the AS Antalis Logistics Centre expansion project took place on 16 June in Stopiņi Parish, Ropaži District. The event was attended by representatives of the municipality, constructor and developer, marking the important expansion of the warehouse, appreciating the building’s sustainability and embedding a time capsule in its foundations for future generations.

The investor and developer Capital Mill is an Estonian investment company investing in commercial real estate in Latvia, Lithuania and Estonia. The company manages a number of projects in the Baltics with a total asset value of approximately EUR 450 million. Since 2017, more than EUR 51 million has been invested in the Latvian market. According to Capital Mill Real Estate Development Project Manager Valdis Silnieks, “Antalis is an ambitious, stable and growing company, so we are delighted to build on our current warehouse expansion and provide our tenant with solutions that meet contemporary requirements.”

Antalis has been operating in Latvia for 29 years. The company’s team currently consists of 70 employees, operating in five sectors: papers, materials for printing and office, hygiene products and solutions for public spaces, visual communication materials and equipment, as well as products, materials, equipment and solutions for packaging. As the company has evolved over time and always strives to stay one step ahead of customer and partner expectations, the expansion of the Logistics Centre is the next step for the company and the developer Capital Mill, which will open new opportunities in product range expansion and customer accessibility, especially in the promising area of packaging products, materials, and solutions. The total warehouse area of the Logistics Centre will be an impressive 10000 m², thanks to the addition of an extra 3300 m².

“We are pleased that Antalis has been operating in Stopiņi Parish for more than 20 years and continues to steadily grow and develop. Every development of the company is an added value for the municipality and our residents, providing jobs. Moreover, the company is socially responsible and is a long-standing cooperation partner of the municipality – we are all happy about the oaks planted in Līgo Park on the occasion of the company’s 20th anniversary, and there has been good cooperation with Ulbroka School of Music and Art in the implementation of various projects. We are very grateful for this and wish to continue this stable and sustainable growth!” said Vita Paulāne, Ropaži District Council Chair.

The project inauguration event was also attended by the building’s constructor Mitt&Perlebach for which this is the first project in Latvia in partnership with Capital Mill. “We have been working on this new and modern warehouse project for some time, and I am really pleased to see the start of construction. Our cooperation with Capital Mill has been very smooth and professional during the design phase, and I trust that this will continue during the construction phase. Even though the situation in the construction market is still uncertain, I am confident that we will meet all our commitments and deliver the building to the client on schedule,” explained Mitt&Perlebach CEO in Latvia Allan Mahkvei.

The Logistics Centre expansion project has also been awarded the BREEAM (“Building Research Establishment Environmental Assessment Method”) certificate for its design stage. This prestigious recognition certifies that the building meets the highest standards of energy efficiency and sustainability, providing the friendliest solutions for both the environment and people. This type of building assessment is internationally recognised and is currently the most widely used system in Europe, including Latvia and the Baltic States. “We are delighted to be working with Capital Mill in the sustainable building sector – it is very gratifying that even in such challenging times, sustainability remains an asset in both construction and renovation work. We would like to thank the whole team for the successful cooperation during the design phase so far – we look forward to working on the construction of the building,” said Aļona Purvlīce, Senior Sustainability Consultant at VESTA Consulting and international sustainable construction assessment scheme BREEAM assessor.

The construction of AS Antalis expanded Logistics Centre will be completed by the middle of 2023. We invite you to keep track of the project’s news on the homepage of the developer and investor Capital Mill.

 

For additional information, please contact:

Ieva Grīnerte

Capital Mill CEO in Latvia

ieva.grinerte@capmill.eu

+37129477391

www.capitalmill.eu

Press-release: The owners of Capital Mill bought Rappel centre in Rapla and the Maxima in Ahtme

Last week, the owners of Capital Mill – Igor Mölder, Marko Kull, Tanel Samuel, and Aleksandra Samuel bought the biggest shopping centre in Raplamaa, Rappel, from Fausto Capital, and the Maxima supermarket properties in Ahtme. The value of the transaction is around 14 million euros.

‘Adding the modern retail spaces located in Rapla and Ahtme to the Capital Mill portfolio supports the company’s expansion strategy in every way. We are always on the lookout for investment opportunities in all Baltic states and the investing portfolio we manage has been in stable growth throughout the company’s existence,’ said the CEO of Capital Mill, Kaarel Loigu.

According to Kaarel Loigu, the current economic situation has grown complicated, unpredictable, and made foreign investors anxious. This is also the reason for the halt or temporary putting on hold of large real estate transactions. ‘We see great opportunities here since the situation favours local investors’ activity in making transactions,’ Loigu stated.

Sven Mihailov, one of the shareholders of Fausto Capital, says that the decision to sell was made due to the wish to direct focus mainly on the development of commercial real estate, especially the development of the new phases of the Fahle business quarter created in the area of the historic paper mill.

Fausto Capital was advised on the transaction by the law firm RASK. The transaction was coordinated by SUPPA Advisers, a partner of the Savills Group in the Baltics. The purchase of the retail spaces in Rapla and Ahtme was financed by LHV and Bigbank.

‘Investors in Capital Mill’s business volumes and activity expect financial partners to react quickly and on flexible terms, this fits well with Bigbank’s vision and ambitions,” said Aimar Roosalu, the Head of Estonian Corporate Banking Unit at Bigbank. According to him, the Estonian economy has reached a phase, in which investment decisions are difficult to make. ‘Then again, it is relatively convenient for the bank to finance the purchase of well-located retail space, since such objects can withstand different economic cycles,” Roosalu added.

The size of the Rappel centre property, completed in 2012, is almost 16 000 square metres, and the closed net area reaches 5293 metres. The size of the Ahtme Maxima property, completed in 2015, is 7465 square metres and the closed net area is 3600 square metres.

Capital Mill was founded in 2008. The company is focused on investments in commercial real estate in the Baltics, and today, the portfolio volume reaches 485 million euros. The founders and partners of the company is a team of lengthy experience in real estate and banking. Capital Mill manages several highly regarded commercial buildings in Estonia, Latvia, and Lithuania.

 

Additional information:

Kaarel Loigu

CEO of Capital Mill

kaarel.loigu@capmill.eu

+372 503 2845

+372 630 3700
property@capmill.eu

© Capital Mill 2019

➤