Today is the grand opening of Vaba Lava – the first new theatre building constructed in Tallinn over the last 100 years. Vaba Lava wishes to become a venue for young, experimental and innovative performing arts and network with theatres with similar profiles abroad. More www.vabalava.ee/en/.
EEREIF sold Telliskivi Loomelinnak in February to a Swedish private investor. As part of the transaction, the fund undertook the obligation to finalise the development of Vaba Lava. Lumi Capital, advisor to EEREIF, advised the theatre development featuring 2700 square meters of space. The total investment was 2.2 million euros. The grand opening is the final step of a 3-year development project, which included the lease price negotiations with the Estonian government, the design of a specialised building and the construction stage.
The construction supervision partners were Balfour Construction and Real Estate, as well as HML Project Management. The construction company was Messiehitus, and the architect Allianss Arhitektid.
Lumi Capital is advising EEREIF Management AS in the management of sale of the EEREIF’s assets.