Capital Mill, which has become one of the most important real estate investment companies in the Baltic States, wants to grow in the Estonian, as well as the Latvian and Lithuanian markets over the next ten years.
Founded by Igor Mölder, Marko Kulli and Tanel Samuel in 2008, Capital Mill has expanded its activities to all the Baltic States and has built hundreds of thousands of square meters of high-quality commercial, office, industrial and residential space for its clients.
According to the company’s Chief Executive Officer Mölder, the first goal was to reach an asset value of EUR 100 million, but by now it has been exceeded several times, which is a pleasant surprise for the business itself too.
“One has to dream and do it boldly. I do not know where we will be in 10 years’ time, but I do not rule out that we will be ten times bigger than we hoped for at the beginning,” Mölder said in the Capital Mill anniversary speech. “The ten years so far have certainly not been a speed race on the highway to success. I remember a moment when we were desperate and did not know where to go to next. Despite everything, we decided to move on – whatever it cost. That decision was the right one.”
Capital Mill moved to its first office on 1 June 2008, while by that time, its first two transactions had already been made.
By now, the company has built several prominent buildings that define the environment around them. Commercial and office buildings Navigator and Explorer, built according to the highest environmental requirements in the Tallinn port area, created a new standard in their field. The Promenaadi apartment buildings built between them were the first to use a number of innovative solutions. The Lasnamäe Health House, which was erected in the Lasnamäe city district, became the first building with public functions in Estonia, the construction of which was financed 100% by private capital.
“Capital Mill’s goal is to leave behind something that people can be proud of after we are gone. We would like to think that we are part of something bigger. We play an important role in urban planning, and not only in Tallinn, but also in the planning of Riga and Vilnius,” said Mölder. “We want our work to create something that will last. We want to create value, which benefits not only us, but also our investors and society in general. We want to be useful to our partners. ”
In a few years’ time, the office tower Skyon, with a unique eye-catching facade solution, will be erected on the Maakri Street in Tallinn; in Riga, the commercial and office building Capital City, consisting of three 13-floor towers, will be erected on the embankment of the Daugava River and in Vilnius, the Capital Mill portfolio includes Grand Office, which has found recognition in the international architecture community.
“The development of our company has been fast and impressive even for us,” Mölder said. “We are grateful that we can be part of this process. We are grateful that we are accompanied by so many people who believe in us and so many partners who want to work with us.”
Capital Mill OÜ was founded in early 2008 to help investors looking to acquire commercial real estate in the Baltic countries and generate value through high-quality property management services. The founders and partners of the company comprise a team with long-standing real estate and banking experience. The company’s investment portfolio consists of a large number of sought-after business properties in Estonia, Latvia and Lithuania.