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It was year 1999, and by that time ERI Kinnisvara had been active on the market for 7 years already. We had achieved a respectable position both on the market of real estate services as well as on the development market. We had developed the St.Barbara Hotel in a building of architectural value in Roosikrantsi Street, we had built one of the first modern blocks of flats in Estonia in Keemia Street, and we had renovated an Art Nouveau building and turned it into a modern office building in Toompuiestee. In addition to that, we had acquired numerous registered immovable properties and objects for future development. We had focused all our development and investment activities on Tallinn.

At the same time, dealing with real estate services took increasingly more time also on the owners’ level as the real estate companies became more professional and competition on the market heightened. This is the reason why in autumn 1999, Hannes Pihl, then a member of the Board of ERI Kinnisvara AS, Alis Möll, then the Finance Manager of the company, and Teet Saarepera, a co-operation partner of the company, had an idea to make a proposal to the owners to sell the service part of ERI Kinnisvara together with its employees and trademark to the management of that time. By doing that, they offered more freedom to the founders of ERI Kinnisvara and created new development possibilities for the development of services. Thus, a prerequisite for a good deal, a win-win situation had been created for everybody. Already at the beginning of 2000, they started their activity as a new independent company that positioned itself as a company offering 100% real estate services. Today, our teams consist of as many as 70 people, and we truly believe that it is only the beginning of our story.