NREP Divests Office Property in Helsinki

Finland Finland NREP has sold a prime office property located in the district of Sörnäinen in Helsinki to M&G Real Estate.

2017-10-26

Share via e-mail

The office property consists of two adjacent office buildings, comprising a total of approximately 11,000 square meters of lettable area. Both of the current tenants, the Finnish Border Guard and the Finnish Transport Agency, have long lease agreements. The value of the transaction is EUR 28M and the buyer is a fund managed by M&G Real Estate, one of the world’s largest property investors.

The seller is NREP Nordic Strategies Fund II, a pan-Nordic real estate fund managed by NREP.

"The asset is part of a larger portfolio of office assets that was acquired in 2016. During the assessment of the portfolio, this asset had less need for operational asset management and was identified as potential for divestment. The appetite for a fully modernized prime located office property was as strong as expected, and we are very satisfied with the second exit from NREP Nordic Strategies Fund II,” says Jani Nokkanen, Partner at NREP.

"We are very pleased to have the opportunity to further grow our Finnish portfolio with an office building in a part of Helsinki undergoing interesting development such as the REDI shopping centre. The relative value compared to the CBD also made this acquisition very compelling, especially having two government tenants giving us long secure income.” says Thorsten Slytå, Director Nordic region at M&G Real Estate.

CBRE and Krogerus acted as NREP’s advisors. White & Case acted as M&G’s advisor. 
 




Maria Olsson Äärlaht
maria@nordicpropertynews.com




YIT Lands Deal in Espoo

Finland Finland YIT has entered into an agreement with the City of Espoo, on the construction of the Karhusuo school centre’s phases 2 and 3.


Trevian Aquires in Central Tampere

Finland Finland Special common fund Trevian Finland Properties I has on bought the PMK-building in the centre of Tampere from Renor Oy.

Citycon Sells Retail Property in Kuopio

Finland Finland Citycon has signed an agreement to sell a retail property in Kuopio to Special Investment Fund Fennica Toimitilat I for approximately EUR 22M.

YIT has Started Several Residential Projects

Finland Finland YIT has started the construction of residential projects worth approximately EUR 125M in Finland, the Czech Republic and Estonia in March. The start-ups were recorded in first quarter of the year.

OP Financial Group on Acquisition of Marimekko's HQ

Finland Finland OP Financial Group has through its Finnish Real Estate Fund Finland III acquired the head offices of world renowned Finnish design company Marimekko in a sale and lease back transaction. Markku Mäkiaho, Managing Director of OP Real Estate, tells Nordic Property News of the key points in the acquisition, the importance of a keeping a long-term tenant and the transformation of the up and coming area Herttoniemi.


Kojamo Divests Close to 1,600 Apartments

Finland Finland Kojamo Group’s companies have signed an agreement whereby they will sell in total 1,594 rental apartments in 15 locations to a real estate fund managed by Morgan Stanley Real Estate Investing.

Newcomer to Open Flagship Store at Mall of Tripla

Finland Finland The English sports retail giant JD Sports will open a flagship store in Finland in autumn 2019 as a part of the new urban centre Mall of Tripla in Pasila, Helsinki.

Trevian Divests 12 Commercial Properties

Finland Finland The properties are a part of Trevian Asset Management’s Forte portfolio and the buyer is Elite Kiinteistökehitysrahasto I Ky.

Skanska Invests EUR 96M in Office Project in Helsinki

Finland Finland The building will be the office for the European Chemicals Agency, ECHA, who signed the lease agreement in December 2017.

CBRE Sells in Helsinki

Finland Finland CBRE Global Investors has successfully completed the sale of the inner-city block Kluuvi to AXA IM - Real Assets, acting on behalf of one of its clients.