Lumi Capital and LHV pension funds announced their joint plan to develop rental apartment buildings in the summer of 2017 and today, the first two rental buildings are being constructed in the Manufaktuuri Quarter of Northern-Tallinn. The rental buildings will be located in Tallinn's residential areas within walking distance of schools, nursery schools, grocery stores and public transportation stops. Lumi Kodud aims to offer quality housing for people who do not wish to own real estate in Tallinn, but are instead looking for high quality, reliable housing. All rental buildings will share the Lumi Kodud trademark.
The rental buildings are suited for a broad group of residents – from seniors to young families and young people just getting started in their career – for anyone looking to enjoy a worry free life in their quality new home in one of Tallinn’s most popular residential areas.
People are increasingly adopting a European way of thinking where flexible and high quality alternatives to home ownership are valued. People prefer a new home that is equipped with all modern conveniences in a good location. Lumi Kodud apartments meet all of these requirements.
Apartments in the rental buildings are modern in terms of their technical solutions as well as interior design, offering bright apartments with smart planning. Thanks to modern solutions, the heating costs are significantly lower than the heating costs for buildings constructed during the Soviet period, all the while keeping a pleasant interior climate.
Lumi Kodud is managed by a team of professionals at Lumi Capital, which allows to make operational decisions regarding necessary repairs and maintenance. This way, the building management operates in the background.
The owners of the rental buildings are LHV pension funds. In terms of residents, one of the most convincing arguments is security – apartments are leased for as long as necessary and there is no situation in which the living space must be vacated due to the owner’s unexpected plans. LHV pension funds own the buildings with the long-term goal of earning rent, and are therefore interested in long-term rental relationships
The investors of the strategy are pension funds by LHV Varahaldus.
The investment strategy has been founded by Lumi Capital.