Estonia: The completion of T1 Center’s turnaround is financed by LHV Pank with €10m

OÜ Lintgen, the operator firm of the T1 Center in Tallinn, and AS LHV Pank signed an agreement, which will open a €10m financing to T1, to complete the center’s turnaround process.

"In the last couple of years, T1 has been extensively reshaped, and we have made strong progress in transforming T1 into a center that offers something to every visitor and stands out clearly among other centers in Tallinn and Estonia. This year, we will continue with large-scale investments, and it is a pleasure to work with LHV Pank, to complete the changes both in the center’s concept as well as in the exterior and interior appearance”, said Tarmo Hõbe, CEO of T1.

So far, the owner of T1 has invested €11m in the center’s turnaround. “The financing by LHV Pank underscores that T1’s concept of a multifunctional center is forward-thinking and distinctive among its peers in the market”, Hõbe added.

Last year, T1 completed the first phase of development on the third floor, which now houses several sports and leisure clubs, as well as health and wellness providers. The rental properties and common areas there received a completely new appearance and function on a total of 16,000 square meters, which is nearly a fifth of the entire T1 center.

In trade, T1 has focused on the outlets located on the first two floors of the center. Access to T1 and movement in the center have become much more convenient in recent years. All the conceptual and functional changes are providing good results, because now the T1 center is visited by more than 300,000 people per month and on average more than 10,000 people per day.