P&E Real Estate acquired Solaris Centre from Swedish owners

Ellex in Estonia advised real estate company P&E Real Estate in the acquisition of Solaris Centre in Tallinn from the Swedish firm Sveafastigheter Fersen Estonia. 

Solaris Centre is a prominent entertainment and leisure complex located in the heart of Tallinn. The centre houses a concert hall, cinemas, a fitness club, cafés and restaurants, a supermarket, parking facilities, as well as various retail stores and office spaces. 

Head of P&E Capital Kristjan Piilmann said Solaris is an excellent addition to the company’s growing commercial real estate portfolio. “We strongly believe in the journey Solaris has taken so far and hope in the future to contribute to further developing the center’s existing strengths, such as its diverse local cultural and leisure offerings,” he said. 

The seller’s decision to proceed with the transaction was driven by a strategic exit from the Estonian market. P&E Real Estate aims to expand its commercial real estate portfolio in central Tallinn and diversify its investments while maintaining reasonable returns. 

Ellex team was led by Alla Kuznetsova and Risto Vahimets. The team included Martin Käerdi, Martin Mäesalu, Merlin Liis-Toomela, Toomas Kasesalu, Karin Tartu, Hanna Pahk, Andre Tuul, Katrina Külm, and Miikael Tuus.