East Capital Real Estate is the first company in Estonia to have certified an industrial property by Building Research Establishment’s Environmental Assessment Method (BREEAM). In total, East Capital Real Estate has certified six properties. The aim is that all holdings overtime should be certified.
The three properties that have been certified are Bauhof sales centre and two properties in the Tallinn area. One of these is the first industrial property in operation in Estonia to become certified by BREEAM.
BREEAM is one of the oldest and most established environmental certification systems and has been used to certify over 500,000 buildings. The BREEAM rating reflects East Capital Real Estate’s sustainability objectives for the property investments it oversees, and the company plans to update its property portfolio over the next few years so that all properties meet the higher requirements for BREEAM’s sustainability certificate.
Albin Rosengren, Partner at East Capital Group and head of East Capital Real Estate, comments: “The certificates do not only increase the attractiveness of the investments and the value of the portfolio but also provide strong evidence of the property’s suitability as a workplace. This is because the evaluation puts high demands on factors related to the health and well-being of those who visit the building on a daily basis. There has been a clear trend in the market for a couple of years, where potential tenants prefer sustainable and green properties for their businesses. For investors, therefore, compliance with such requirements and obtaining certificates increases both the attractiveness and reliability of the property portfolio or the specific location.”
In June 2020, Hilton Tallinn Park, acquired by East Capital Real Estate in 2016, became the first hotel in Estonia to receive an “In-Use Very Good” rating from BREEAM.