GNRE Fund II has acquired Antinkatu 1 and Bulevardi 21.
Antinkatu 1 offers some 11,200 sqm of lettable office space and is located in the Kamppi district, just 100 meters from the Kamppi Shopping Center and Metro Station. The building was constructed in 1952 for the purpose of housing the Finnish state printing house and was later refurbished and developed for office use. The National Audit Office and TE-Services are currently the main tenants at Antinkatu.
Bulevardi 21 offers some 10,100 sqm of lettable space and is located on one of Helsinki’s most attractive and well-known streets, neighboured by high quality cafés and restaurants. The property at Bulevardi 21 was constructed in 1961 as an office building for the Finnish state including the Local Registrar Office which currently occupies several floors in the building.
“The properties fit perfectly into the investment strategy of Genesta’s new fund. Both assets have excellent locations and offer interesting renovation and leasing opportunities,” comments Genesta’s CEO David Neil.
Managing director of Senate Properties Jari Sarjo is satisfied to have concluded the sale. ”This divestment supports Finnish Government's real-estate property and premises strategy, according to which we aim to release the equity tied in properties located in the most valuable addresses in city centres, to allocate equity in the core operations of the Government,” he says.
Genesta’s New Fund Acquires Two Prime Office Properties in Helsinki
Finland — Genesta’s new fund, Genesta Nordic Real Estate Fund II (GNRE Fund II), has acquired two prime office property assets in the city center of Helsinki from state-owned Senate Properties. The total purchase price of the assets is € 36.3 M.