EfTEN Capital AS and Südamekodud AS have signed a preliminary agreement under which EfTEN Real Estate Fund AS, through its subsidiary, will acquire the property located at 42 Hiiu Street in the Nõmme district of Tallinn and finance its development into a care home. 

Nõmme Südamekodu will provide a modern and safe home for 170 elderly residents, with construction expected to start in the spring of 2025. 

“Together with Eften, we will start renovating the former Health Development Institute building in Nõmme to establish a modern care home called Nõmme Südamekodu. We expect to announce the construction tender at the beginning of the new year, and construction will likely begin in the second quarter,” said Martin Kukk, Chairman of the Board of Südamekodud AS. According to him, the Tallinn Deaconess Hospital, part of the North Estonia Medical Centre, will continue operating in the building under its existing lease, and the change of ownership will not affect this arrangement.

The care home will be located in the five-storey section of the building at 42 Hiiu Street. The three-storey section will continue to house the Tallinn Deaconess Hospital, part of the North Estonia Medical Centre, whose lease is valid until 2031. This part of the building will continue to provide palliative and rehabilitation care.