Ruoholahti is one of Helsinki’s prime office submarkets and the gateway to CBD Helsinki from the western part of the metropolitan area, located only two kilometres southwest of the city centre. Ruoholahti is a busy transportation hub with a direct access to metro and several tram lines. Helsinki Central Railway Station can be reached with a 5-minute Metro ride. The Baana cycling and walking path starts from Ruoholahti and connects Ruoholahti with Töölönlahti. The Länsiväylä Highway, which starts from Ruoholahti is the main road towards west, serving more than 70,000 vehicles daily.
The portfolio is an excellent add-on to Antilooppi’s existing portfolio. After this transaction Antilooppi owns 37 properties in the Helsinki Metropolitan Area and Antilooppi will have now more excellent choices to offer for both existing and new office and retail tenants.
Christian Hohenthal, Sponda’s President and CEO, said:
“The strong investment market supports the divestment of these assets and we are delighted to see Antilooppi continue our work going forward. Sponda has several development projects either under way or in the pipeline: this sale will free up resources necessary for these developments, allowing for the continuation of Sponda’s strategy to actively develop its properties and create outstanding working environments for its customers.”
Transaction is expected to take place in spring 2020, and it is subject to approval by Finnish Competition and Consumer Authority.
JLL advised Sponda on the sale.
Mathias Vuorelma, Co-Head of Capital Markets, JLL Finland, commented:
“Sponda is one of our most valued and long-standing clients, and we are extremely pleased to have been able to help facilitate this landmark transaction. The Helsinki market has recorded strong rental growth over the past years, which coupled with strong population growth and continued urbanisation creates a solid foundation for sustained and robust investor demand for commercial properties going forwards. This transaction emphasizes the strong demand and liquidity for also larger portfolios.”