Reimo Simsalu Started Work as Head of Real Estate and Business Development at Capfield AS
Reimo Simsalu became the new real estate and business development manager of Capfield, a company operating commercial real estate, who sees potential to grow the company's rentable commercial space, exceeding a significant 100,000 square meter threshold within five years.
Capfield currently owns and operates more than 80,000 square meters of commercial space in Estonia, the most well-known of which are shopping centers Nautica and Lasnamäe Centrum. The portfolio also includes Lasnamäe Prisma, Lasnamäe Bauhaus, Tondi Selver, and Pärnu Maxima XXX.
"We are constantly looking around and searching for new business expansion opportunities. There is potential in the market, and my main goal in this new position is to manage current and future real estate investments and grow the company's real estate portfolio, exceeding the 100,000 square meter rentable space threshold within a five-year perspective," said Reimo Simsalu.
According to him, there is certainly room in Estonia for quality and well-thought-out commercial space where a pleasant shopping experience for customers and sustainable business planning for merchants would be guaranteed simultaneously. "We recently completed renovation work at Lasnamäe Centrum, where we installed the first of its kind LED screen above the main entrance in Estonia. We want to continue with innovations and be trendsetters in design among retail companies. We currently have several expansion and renovation plans in progress, as well as new developments. We want to continually modernize our centers, make the customer experience as good as possible, support local businesses, and thereby increase profitability for ourselves as well as our tenants and business partners," added Simsalu.
Six years ago, the Nautica center, which belongs to Capfield, underwent a thorough expansion and renovation, and this April, Lasnamäe Centrum also underwent a renovation, but according to Simsalu, the work never ends, and fierce competition in the commercial market and visitor expectations are motivators for further developments.
"We consider one of our strong competencies to be the development of commercial real estate designed for single tenants: created in the right place for the right client, this is a very well-functioning format, and we are currently working very actively in this direction," said Simsalu. Among other things, developments are planned both on the Lasnamäe Prisma property and on a plot owned by the company in the Tähesaju business district, which is one of the last undeveloped properties in this rapidly developing area.
"We also want to offer our clients the opportunity to make sustainable choices. To achieve this goal, we are currently also working on developing electric car charging infrastructure," added Simsalu.
Reimo Simsalu has worked in the real estate sector since 2006, and over the last 8 years he has focused on commercial real estate. "We are pleased that Reimo joined our team to grow our portfolio in Estonia. His significant experience in the Baltic retail and commercial market will help our continued development and growth," clarifies Colin Griffiths, who represents Capfield AS owners in Estonia.
Capfield AS is a shopping center owner and developer whose portfolio is one of the largest in Estonia, extending from downtown Tallinn to suburban areas and outside Tallinn – to Pärnu. The largest anchor tenants make up 65% of the portfolio's total rentable space and include local and international brands such as Bauhaus, Maxima, Prisma, Rimi Hyper, Selver, H&M, KFC, Burger King, Nike Outlet, SportsDirect.com, Deichmann, Denim Dream, Jysk, Euronics, Apollo bookstores, LPP fashion brands House, Sinsay, and Cropp.
