Südamekodud Acquired the Pirita Pansionaat

The elderly care operator Südamekodud has acquired its tenth facility — the Pirita care home, Tallinn’s largest private elderly care centre.
The 255-bed care home building, completed last year, is owned by the EfTEN Real Estate Fund.
In addition to the Pirita care home building, the fund’s subsidiaries recently acquired the property of Valkla Südamekodu and the building right for a new Südamekodu near the Estonian National Museum (ERM) in Tartu. EfTEN is investing up to ten million euros in developing new living environments for the elderly. According to Südamekodud co-owner and Chairman of the Board Martin Kukk, the company has grown over five years into Estonia’s largest elderly care provider. “We are represented in rural areas, and with the establishment of Valkla Südamekodu and the acquisition of the Merivälja and Pirita care homes, we have also become the largest provider in the capital and its surroundings,” said Kukk.
Kukk added that Estonia still lacks sufficient home care services, and Südamekodud aims to become a pioneer in that field in the coming years.
EfTEN also sees great potential in Estonia’s care home sector — in Scandinavia, there are many real estate funds dedicated solely to elderly care homes, said Viljar Arakas, Member of the Management Board of EfTEN Real Estate Fund III.
With the acquisition of the Pirita care home, Südamekodud now provides services to nearly 1,000 residents and employs more than 300 people. Südamekodud operates care homes in Käru, Piigaste, Lihula, Värska, Saaremaa, Kunda, Kohtla-Järve, Valkla, and in Tallinn — at Merivälja and Pirita.