Paul Oberschneider sold his remaining share yesterday (May 12, 2011) in the six retail centers he built in Estonia. The sale of his stake in the 75,160-m² property portfolio to his investment partner Satnam Europe marks the disposal of Oberschneider's last business assets in Estonia
Oberschneider, the founder and CEO of Hauser-Oberschneider, initiated and developed all six retail centers, at first with Apollo Real Estate Advisors as financial partners, then after 2004 with Satnam Europe. The properties are anchored by international tenants such as Rimi and Bauhaus.
In 2007 Oberschneider sold Ober-Haus Real Estate Advisors, the brokerage company he founded in 1994, to Realia Group of Finland. Ober-Haus grew from one office in Tallinn to be the largest single branded real estate company in Central and Eastern Europe with 35 offices and 350 brokers.
In 2006 Oberschneider sold the Schlössle Hotel Group, a boutique chain of five and four star hotels he built, and that year also sold his other real estate ventures including a 12 hectare city center site, also to Satnam Europe.
Oberschneider is an American-Estonian who came to Estonia in 1994 with US $400 and went on to develop over 200 million of real estate. In 2006 Oberschneider was named one of the top 50 real estate developers in Europe by Euro Property magazine. Today Oberschneider resides in London and Buenos Aires and maintains a residence and family office in Tallinn, Estonia.
Source: Ober-Haus
