Castellum Enters Finland with EUR 81M Acquisition

Castellum enters Finland with an acquisition from Skandia. Image: Castellum
Castellum enters Finland with an acquisition from Skandia.

Finland Finland Castellum has acquired a substantial property in central Helsinki from Skandia, thereby establishing itself as a major player in a new attractive market.


Share via e-mail

Castellum is acquiring the Salmisaarenaukio 1 building, in the Ruoholahti office-block area of Helsinki, from Skandia. The building comprises approx. 14,433 sqm, and the investment is a solid element of Castellum’s strategy for building a strong Nordic real estate portfolio.

“Through this acquisition in Finland, it’s gratifying to note that Castellum is taking the next step in our strategy to grow and establish ourselves in several Nordic growth areas. We aim to be one of the major commercial real estate owners in Helsinki”, says Castellum CEO, Henrik Saxborn.

Salmisaarenaukio 1 is a modern and versatile property, situated in one of Helsinki’s most attractive and easily-accessed office clusters, Ruoholahti. Several major companies have located their headquarters in the area, and Castellum sees bright possibilities for growing in both the office and logistics segments, in a predominantly strong and stable market. Castellum takes immediate possession of the fully-leased building. The investment is assessed to generate annual revenues of approx. EUR 5.0M, which corresponds to MSEK 52, at today’s currency exchange rate.

Initial responsibility for the property will be designated to Sweden, but Castellum’s ultimate aim is to develop and establish a local organization in Finland.

Castellum will finance the acquisition through existing, unused credit.

JLL advises Castellum on their entry to the Finnish market.

Axel Ohlsson

YIT Launches a New Housing Development in Moscow

Finland Finland YIT continues the construction of the Finskiy development in the city of Shchyolkovo northeast from Moscow with its eighth apartment building in the district. The new 16-storey building will house 300 apartments ranging from studios to three-bedroom flats, with a total floor area of 13,500 square metres.

NCC Builds Residential for Elo

Finland Finland NCC will build 70 homes for Elo in Vantaa.

VVT Acquires Martinlaakson Ostari in Vantaa

Finland Finland VVT Property Fund I Ky acquires the Martinlaakson Ostari shopping centre from a fund managed by Cerberus Capital Management.

Conficap Purchase 33,000 sqm Offices

Finland Finland Conficap acquires three office properties located in Pitäjänmäki, Helsinki from a fund managed by Aberdeen Standard Investments.

The Strenghts of Turku

Finland Finland Trevian invests in Turku. Amalia Pöyry, Fund Manager, tells Nordic Property News what makes Turku interesting to Trevian and the company’s future in the city.

Cibus Acquires Six Properties

Finland Finland Cibus has signed the acquisition of a portfolio of six daily-goods properties in Finland. In conjunction with the transaction, Cibus has refinanced one of its three senior-loan facilities.

New CEO and COO at Citycon

Finland Finland The Board of Directors of Citycon has appointed F. Scott Ball as Citycon’s new CEO. Henrica Ginström becomes new COO.

Trevian Buys in Turku

Finland Finland Trevian purchases three properties in Raisio, Turku, from Kiinteistövarainhoito KVH.

Sagax Expands in Finland

Finland Finland Sagax acquires a warehouse property in the Vantaa, Helsinki and two propertis in Eindhoven in the Netherlands.

Why Cibus Replaces their CEO

Finland Finland The Pareto company Cibus has had a very successful start since the giant acquisition of grocery stores in Finland. Despite this they have now chosen to replace their CEO. Chairman Patrick Gylling tells Nordic Property News about the change in CEO , the company’s new phase and why they are considering another CEO located in Sweden.