In July 2018 Kielo acquired the office property Vapaudenkatu 22 in Lahti, sold by a private investment company owned by Royal House Oy. This transaction is the company’s first acquisition in Lahti, a city situated 100 km north-east of Helsinki. The asset has an attractive location in Lahti CBD, within walking distance of the Lahti Market Square. The building was constructed in 1987 and has undergone a number of renovations, with the latest in 2017. The main tenant is The Housing Finance and Development Centre of Finland (ARA).

The Sellers financial advisor was Suomen Toimitila Oy.

"With the acquisition of Vapaudenkatu 22, Kielo enters the Lahti market - a strong Finnish growth centre and university city. Lahti is located within commuting distance of Helsinki and there are several interesting development projects around the city in the near future. As Kielo’s first CBD asset, the property benefits from a central location and interesting development opportunities in the long-term. We look forward to finding additional investments in Lahti," says Hanna Rauhala, Fund Manager at Brunswick Real Estate.