Finland's First Business Park Spektri to be Unified

Finland Finland Spektri Kiinteistöt Ky, company established by the current owners of Finnish business park Spektri – Mutual Pension Insurance Companies Ilmarinen and Varma, together with the Helsingin Seurakuntayhtymä, and Yle Pension Fund – has acquired the real estate company Kvartti of Spektri.

2018-10-17

Share via e-mail

The acquisition aims to harmonize the business structure of the business park, as well as to streamline its operations to better serve both tenants and investors. The seller of the real estate company was Keva. The investors have chosen Trevian Asset Management Oy as the management company of the business park, and Trevian acted also as an advisor in the acquisition.

Since construction, Spektri Business Park has been one of Finland’s largest business parks and owned by domestic institutions. The business park is located in the Otaniemi technology hub in Espoo, within the Helsinki metropolitan area, and has previously been formed of five separate mutual real estate companies. Spektri has been reformed strongly to meet today’s needs for office premises. Today, the business park presents versatile services, most recent addition being the Spektri Auditorium & Lounge. Spektri is also a popular conference center.

Trevian Asset Management Oy is responsible for the management, development and leasing of Spektri Kiinteistöt Ky, and has also acted on behalf of the buyers in the acquisition process. The total area of Spektri is almost 50,000 sqm, and the leasable area approximately 35,000 sqm. The business park has more than 100 tenants and the occupancy rate for Spektri is around 85 percent. ”We consider it as very positive opportunity that along with this acquisition, all Spektri properties have the same owner, Spektri Kiinteistöt Ky. The new business structure enables the most efficient development of the business park as a whole. We are now able to offer the tenants flexible office premises, equally from all five office buildings”, said Reima Södervall, CEO of Trevian Asset Management.

“During the recent years, Keva has rarely been in the position of the seller in its real estate investments,” said Petri Suutarinen, Real Estate Director of Keva. “As far as Kvartti is concerned, we have been the owners since 1996. Last year, the sale of the real estate came to consideration when the next phase of the development of the business park began through ownership arrangements. Along with the favorable market situation, we decided to look into the possibility of withdrawing from the investment,” said Suutarinen.

Borenius Attorneys Ltd has acted as legal advisor in the acquisition.




Axel Ohlsson
axel@nordicpropertynews.com




Cibus Continues to Grow Its Portfolio Through Acquisitions

Finland Finland Cibus has signed the acquisition of a portfolio of five assets in Finland. The acquisition is financed with the credit facility included in the refinancing announced on 15 February 2019.

Kildare Has Gained Title to the Minority Shares in Technopolis – the Shares Will be Delisted

Finland Finland Kildare Nordic Acquisitions S.à r.l. has gained title to the minority shares in Technopolis and Technopolis shares will be delisted from Nasdaq Helsinki.

Skanska Renovates and Extends Public School in Lahti

Finland Finland Skanska has signed an agreement with the City of Lahti to renovate and extend the Kivimaa public school in Lahti.

Quadoro Doric Makes Second Finnish Acquisition

Finland Finland As the portfolio manager for the open-ended special AIF Vontobel Sustainable Real Estate Europe, Quadoro Doric has acquired the office and commercial building “Marble” in a central downtown location in the Finnish city of Turku.

“There Has Been a Huge Lack of Affordable Rental Apartments”

Finland Finland YIT’s Vice President Hanna Jaakkola tells Nordic Property News about the development of the rental apartment market in Finland over the years, how it is today and the company’s new joint venture.

YIT Invests in a New Finnish Joint Venture That Focuses on Rental Apartments

Finland Finland YIT is involved in founding a joint venture that invests in rental apartments the company has constructed in Finland. The investors in the joint venture are YIT (49 percent) and a group of Finnish private investment companies, including Oma Säästöpankki as well as LähiTapiola Etelä-Pohjanmaa. At the same time, YIT is selling almost 600 completed apartments or apartments that are in the final stage of construction throughout Finland to the new joint venture. The total value of the sold apartments is over EUR 100 million.

Areim Acquires an Office Asset in Helsinki

Finland Finland Areim has acquired an office building from GE Healthcare Finland Oy in Vallila, Helsinki.

"There Is an Investment Need That You Should Do Something With"

Finland Finland Recently, Hemsö invested EUR 130 million in healthcare properties in Turku. Head of Finland, Jarkko Leinonen, tells Nordic Property News what is happening with the healthcare properties when the Finnish government has resigned due to a social reform.

Peab Builds Hospital in Seinäjoki

Finland Finland Peab will build a hospital for Fastighetsaktiebolaget Seinäjoen Terveysteknologiakeskus on Östermyragatan in Seinäjoki, Finland. The contract amount is EUR 30 million.

Finland's Government Resigns: Here Are the Possible Effects for the Real Estate Market

Finland Finland Kojamo’s CEO Jani Nieminen on the political chaos in Finland where the government resigned last week and the most important questions in next month’s election.