The Finnish pension company Ilmarinen is the seller of the properties and will, in parallel, become a 50% owner of the jointly owned company with AMF.

The portfolio comprises 15 office properties with a total of 250,000 square meters of lettable space.

The acquisition of this portfolio and AMF’s recent retail property acquisitions are both parts of their aim to diversify their property portfolio and venture into markets other than the Swedish.

“We assess that Helsinki will have a positive development and a continued urbanisation and growth. We look forward to building an independent company together with Ilmarinen, with the ambition to grow and work long term with property management, leasing and development” says Martin Tufvesson, Property Investment Manager at AMF.

The newly started company Cavendo has served as the commercial advisor to AMF in the acquisition and will now deliver a management platform to AMF and Ilmarinen’s joint company.

“It is a major breakthrough for us to be entrusted with assisting two such well recognized institutional investors in a cross-border joint venture,” says Joakim Karlsson, Managing Director of Cavendo.