The total value of the contract is approximately EUR 35M and the project will be completed in spring 2018.
 
The property is located in K3 Logistics business area, developed by YIT, between the Ring Rail Line, Ring III and Helsinki-Vantaa airport. The tenant of the property of 25,000 square metres will be Wihuri Oy Aarnio.
 
“We are extremely pleased with our latest acquisition in Finland. It highlights the fund’s strategy of investing in high-quality, low-risk properties with durable income streams,” says Gert-Jan Kapiteyn, Fund Manager of the Aberdeen European Balanced Property Fund.
 
“The logistics centre of the future continues Wihuri’s long story as a daily goods wholesale operator in a modern way and it completes the extensive K3 business area developed by YIT,” says Heikki Lähdesniemi, Manager of Property Development at YIT.
 
“Negotiation with the investor and tenant has taken place in very good spirits and we are happy to continue initiating this significant project until it is finalized,” says Timo Lehmus, Head of Real Estate Development business division at YIT.