Sturenkatu 21 is a historical and architecturally valuable office building, designed by the famous Finnish architect Ole Gripenberg. The building was finished in 1940 as the headquarters for Oy Volvo Auto and was owned and later used by Kone Corporation. During 2006-2007 a considerable modernization of the property was carried through and it was transformed into an office property for leasing. Today the property has tenants such as Unilever Finland, Posti and Rastor.

The designed office building has a total leasable area of 8,398 sqm on four levels above ground. The property is located in Vallila, one of Helsinki’s most attractive office areas with great communications only three kilometers from the city center.

“We took advantage of the very positive market development and sold the asset that was purchased on the top of the last cycle in 2007. eQ Finnish Real Estate can count on a first class location and reputable tenants” says Axel Kleinefenn, Fund Manager at Warburg-HIH Invest.

“Our ambition is to grow TH Real Estate’s platform in the Nordics and in Helsinki. This divestment fits our customer the best and takes advantage of the strong market while it also allows movement of capital to other properties” Johan Åström, Investment Manager, Nordics, at TH Real Estate adds.

“We are very happy with the acquisition of this symbolic and modernized building located in a recognized good and accessable working area in Helsinki. The large corporate tenants testify to the attractive spaces’ functionality” says Samuel Granvik, Investment Manager at eQ and in charge of fund management at eQ Finnish Real Estate.

CBRE was the seller’s financial advisor in the transaction, while Roschier Attorneys Ltd was the legal advisor. Avance Attorneys Ltd. was the buyer’s legal advisor.