11.06.2026
Marati Maja, the largest direct real estate investment in the history of Estonian pension funds, with a total investment of nearly €40 million, has been completed.
The historic industrial building, located just next to Tallinn’s city centre, has been transformed through extensive renovation into one of the city’s most modern and distinctive office buildings, combining industrial architecture with contemporary technological solutions.
According to Helen Metsvaht, Head of Real Estate Investments at LHV Asset Management, LHV is the only Estonian pension fund manager making direct investments in local real estate.
“It is important for us to contribute to the development of the local living environment and support Estonian business success stories. We continuously seek opportunities to combine the sustainable growth of our second-pillar pension clients’ portfolios with broader societal value, and real estate investments provide an excellent way to achieve this,” said Metsvaht.
For many people, seeing their second-pillar pension savings contribute to the development of their local community carries significant emotional value.
“While shares and stocks are intangible, people who save for their pension with LHV can, for example, dine at Marati Maja or simply pass by the building and know that the vibrant activity within it contributes to the growth of their future financial security,” Metsvaht explained.
This value is created through rental income generated by tenants as well as long-term appreciation of the property. At the same time, investing in commercial real estate also supports Estonian entrepreneurship and the wider economy, as innovative ideas and new solutions are most often born in environments that foster creativity.
According to Metsvaht, Marati Maja has been designed to offer everything that modern professionals value and contemporary working life requires. The building features a shared rooftop terrace with a lounge area, a modern indoor bicycle parking facility with changing rooms and showers, and office spaces characterised by high ceilings and large windows that provide abundant natural light and distinctive character. A smart, controllable indoor climate ensures comfort throughout the year. Flexibility is another key element of the concept, with all office spaces delivered as tailored, tenant-specific solutions.
Marati Maja comprises seven floors and offers a total of 16,000 square metres of leasable space. Companies from a wide range of industries, from forestry to advertising, have already established their offices in the building. Some spaces are still available, however, and interested companies are encouraged to explore the opportunities.
According to Metsvaht, tenants particularly appreciate the convenience of having everything they need close at hand.
“We recently signed an agreement with an Argentiina restaurant, meaning that from this autumn, people in our building will also be able to enjoy excellent dining options,” she noted.
Metsvaht believes that the completion of Marati Maja marks an important milestone for both LHV pension funds and Tallinn’s urban environment.
“Marati Maja is a historic and distinguished landmark. Its renovation and revitalisation demonstrate how thoughtfully planned investments can create significant value for both our second-pillar pension clients and the wider community,” Metsvaht concluded.
More information about Marati Maja is available at maratimaja.ee.
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