MCIP Facilitates Exciting Sale of City Yard Inn Hotel in Tallinn’s Hospitality Sector for Nearly EUR 11.9 Million

Exciting Sale in Tallinn’s Hospitality Sector: MCIP Facilitates Sale of City Yard Inn

We are thrilled to announce that MCIP in the Baltics has successfully advised Meda AB on the sale of the centrally located three-star City Yard Inn hotel in Tallinn. The property was acquired by Baltic Asset Management for nearly EUR 11.9 million.

This sale marks a significant milestone in the hospitality sector of Tallinn, with plans in place for the hotel’s transformation into a dynamic co-living facility. The buyer’s vision for the property aligns with evolving market trends and promises to offer innovative living solutions in the heart of the city.

At MCIP, we take pride in facilitating strategic transactions that drive growth and innovation. We are grateful for the opportunity to contribute to this exciting development in Tallinn’s real estate landscape and look forward to continuing to provide expert advisory services to our valued clients.

The City Yard Inn has 89 rooms on a 2727 m² area, as well as 2 meeting rooms and a conference hall on a 2115 m² land plot. It is located in the Narva mnt 9j, Kesklinn, Tallinn, just beside the central business district and in walking distance of the Old Town. The location offers excellent access to the city’s major attractions and residential areas by private and public transport. Stable flows of people and great accessibility make the building’s environs desirable for both commercial and residential developments, of which there have been several in recent years.

“Interest in acquiring the property was remarkably high. We expected some interested, but not as much as there turned out to be. About 10 competitive bids were received for the hotel. The whole sales process was completed in a three-month period, with two bidding rounds held to determine the most motivated bidder,” says Alexander Wolf, CEO at MCIP.

New opportunities in the residential-for-rent segment (co-living, service apartments, and student housing projects) are attracting the interest of both local and international investors. Given the popularity of such facilities in other European countries, some investors believe they are set to gain momentum in Tallinn as well.

As such, demand is growing for centrally located properties in major cities of Estonia that are well suited for redevelopment.
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