The office property is located at Lemminkäisenkatu 50 in Turku's excellent Kupittaa area and has a leasable area of approximately 4,000 sqm. The property, which was completed in 2004, is fully leased and its main tenants are Grano, Oracle Finland and Kesko.
"With our new acquisition, we are pleased to be able to raise the fund's leverage and increase office weight with a well-established multi-purpose asset. Our fund's strategy of making accurate acquisitions, bearing in mind the level of returns, risks and future prospects, has borne fruit," says Heikki Palmu, Treasurer at Fennia Asset Management.
"Our fund has continued to grow strongly. The reason for this is the attractiveness of alternative investments compared to, for example, fixed income and equity investments, due to good yield and lower volatility. We are looking to acquire a secure and diversified portfolio that can withstand economic cycles," says Tenn Valkama, Head of Transactions at Fennia Asset Management.