The tenants of the property are companies and educational institutions specialized in research, R&D and education in the maritime industry and shipping. The lettable area of the property is approximately 39 000 square meters and the average length of the leasing agreement is seven years. The total purchase price of the property is approximately 100 million EUR.
Ålesund has been chosen as the first Northern European sustainable city of United Nations’ Smart City initiative (Smart City). The standard of living in Ålesund is fostered by research with the help of innovations. The research results are also used more extensively for creating other sustainable cities and improving the standard of living in these cities.
”Office properties comprise approximately 37 percent of the investments in our fund. The investment in the office property in Norway is an excellent addition to our portfolio. The ecosystem of the tenants in Norwegian Maritime Competence Center working to improve the maritime industry together with the sustainable development research of the city of Ålesund make this investment very interesting,” says Jarkko Lehtonen, Portfolio Manager of UB Nordic Property Fund.
UB Nordic Property invests in commercial properties across all Nordic countries. The fund is targeted to both private and institutional investors. UB Nordic Property offers an opportunity to invest even with a small amount of capital in real estates that generate steady cash flow through a well-diversified portfolio. The fund began its’ operations in 2016 and the real estate capital of the fund was 254 million euros in the end of October 2019.
UB Nordic Property is a part of United Bankers’ selection of real asset funds investing in direct real estate, forest and listed REIT and infrastructure companies. United Bankers has a total of 14 real asset funds which invest broadly in domestic and international real assets. These funds comprise over one-third of the group’s assets under management, 3.2 billion EUR.