Union Investment has acquired a 3,500 sq m office property in the Helsinki city centre. The fully let multi-tenant building at Lapinlahdenkatu 3 currently has 17 tenants. It was constructed in 1900 and most recently upgraded in 2008. The vendor and main tenant, who occupies approximately 25 per cent of the space, is the Martha Association, an organisation of some 46,000 members that specialises in matters relating to housekeeping and consumer protection. Theacquisitionisbeingmadeonbehalfofopen-endedspecialrealestatefundDIFA-FondsNr. 3. The parties agreed not to disclose details of the purchase price.

“DIFA-Fonds Nr. 3 focuses on properties in Germany, but also has the freedom to diversify its portfolio across other established national markets in Europe. Due to the price category, tenant structure and high level of fungibility, this multi-tenant building is an excellent fit with the fund’s holdings,” said Wolfgang Kessler, a member of the Management Board of Union Investment Institutional Property GmbH.