The property is unique due to its location at Turku Airport adjacent to the airport’s runway. It serves both air and ground freight and is a significant node in the Finnish and Nordic logistics network. The main tenants are TNT FedEx and DHL Express.
“We are very pleased with the acquisition of the first logistics property for the fund in this sought-after segment. We are looking forward to the co-operation with the property’s tenants to develop this strategically located asset further. Logistics assets serve strong demand trends such as e-commerce, and we see great potential in the development of well-located and high-quality warehouse and logistics properties through e.g. sustainability aspects and leasing activities,” says Aleksi Konsti, Investment Manager at CapMan Real Estate. Helix Real Estate and Hannes Snellman Attorneys acted as advisers for CapMan in the transaction.
“We have clear strategy to focus on developing the Avia City as an urban airport city and now was the right time to divest this asset. We are very pleased that the asset found a great new owner who understood the importance of the property to the whole logistics network of Finland as a hub of air-, maritime- and road transportation of cargo. The domesticity of the buyer was also important for AVIA Real Estate”, comments Ilkka Pitkänen, CEO of AVIA Real Estate Oy.
JLL Capital Markets Finland and HPP Attorneys acted as advisers for AVIA Real Estate in the transaction.
CapMan Real Estate currently manages approximately EUR 4.0 billion in real estate assets and the Real Estate Team comprises over 60 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.