Real Estate & Environment

Ellex Raidla has long years of experience in the field of Real Estate & Environment and covers all aspects of infrastructure, commercial real estate and construction projects. Our environmental law practice is recognized as one of the best in Estonia. We advise both private and public sector clients on the planning and environmental aspects of a broad range of projects. Our experts have been actively involved in legislative drafting and are experienced in implementing EU law in the field.
Key projects in the field

  • Property Reform Act
  • Privatization Act
  • Land Reform Act
  • Law of Obligations Act
  • Law of Property Act
  • Law of the General Part of the Civil Code
  • Inheritance Act
  • Waste Act
  • Package Act
  • Environmental Code

Key contacts

Martin Käerdi


Head of Commercial & Compliance Law and Employment practice group
+ 372 640 7170

Martin Triipan


Head of Environment, Planning and Administrative Law practice group
+ 372 640 7170

Jüri Raidla

Senior Partner

+372 640 7170

Risto Vahimets


+372 640 7170

Ermo Kosk


+372 640 7170

Jaanus Ikla


+ 372 640 7170

Triin Frosch


+ 372 640 7170

Rauno Klemm

Senior Associate

+ 372 640 7170

Kaisa Laidvee

Senior Associate

+ 372 640 7170

Karin Tartu


+ 372 640 7170

Liisbeth Lillo


+372 640 7170

Key projects in the field

We advised the sale of Microsoft office building
LHV Pension Funds in cooperation with Lumi Capital acquired the office building formerly known as the Skype Building in Tallinn. It’s main tenant is the Estonian branch of Microsoft’s Development Center, which focuses on developing cloud-based communication platforms and other Microsoft services.
The building, which was originally built by Nordecon in 2006, has been improved over time to meet customer needs. LHV Pension Funds, in cooperation with Lumi Capital, bought the building from its developer Arealis.
AS Arealis, formerly AS Eurox, is a subsidiary of AS Nordic Contractors that has specialised in the development of real estate. AS Arealis began operating in 2005. The company consolidates investments and development projects, for the most part, into commercial buildings and also partially into apartment buildings. Target markets are currently Estonia and Lithuania.
The pension funds of AS LHV Varahaldus have approximately 176 000 clients. LHV offers both actively and passively managed 2nd and 3rd pillar pension funds. The total value of the pension funds of LHV is 1.3 billion euros.
Lumi Capital OÜ is a real estate investment management company whose clients are private investors, pension funds from Estonia and foreign property investors.
Ellex Raidla’s partner Martin Käerdi and associate Karin Tartu advised the seller on the transaction.
Read more here.
We are advising Lumi Capital and LHV pension funds on the acquisition of rental buildings
Lumi Capital, together with LHV pension funds, have concluded an agreement with Bonava, as a result of which two new rental buildings with all conveniences will be established in the future residential district of Uus-Mustamäe, on the outskirts of Mustamäe. The rental buildings will be completed in the second half of 2021.
The rental buildings to be built in the Uus-Mustamäe residential district will feature 84 one-, two- and three-room apartments. The rental buildings form a part of the comprehensive living environment developed by Bonava, in which 750 new homes will be completed over the next 5-7 years.
“Lumi Capital will continue looking for investments all over Tallinn, to create brand new rental apartments, for which there is a great demand. In cooperation with LHV pension funds we plan to increase the portfolio of rental houses to 500 apartments,” commented Martin Rekor, partner at Lumi Capital.
The transaction is the second investment in rental buildings in the cooperation of Lumi Capital and LHV Pension Funds. The first investment was the Lumi Kodud rental buildings, with 127 apartments, acquired in the Manufacture district, which will be completed next spring.
Ellex Raidla’s Partner Ermo Kosk, Senior Associate Sandra Värk and Associate Marilin Laud are advising Lumi Capital and LHV pension funds with establishing the legal structure of the transaction, conducting the legal due diligence and drafting and negotiating transaction documents. Ellex Raidla’s team previously assisted with the legal aspects in the Manufacture district rental buildings project.
We Assisted in Signing the Biggest Lease Deal in 2018
The law firm Ellex Valiunas was a mediator in SEB’s transaction with UAB Technopolis concerning leased space in the new office building Nova. The SEB Group service centre will occupy 26.740 sq. m. of the leased space in the business centre. The new office building Nova will be built near the Vichy aqua park and Siemens arena. It is planned to open in 2020.
Ellex Valiunas team was led by partner Paulius Gruodis and associate Mantas Juška, other lawyers involved: associate partner Dovilė Skestenienė, junior associate Arvydas Grušeckas and others.