Aktiivihallit Ky is a joint venture between Nrep and Aktiivitilat, a Finnish real estate asset and investment management company, with a strategy to invest in light industrial premises within urban locations, including warehouses and small industrial facilities. The joint venture managed the portfolio to enhance the sustainability profile of the properties and lease the premises to high quality tenants. Aktiivitilat AM Oy acted as the portfolio’s asset manager.

“Nrep’s joint venture with Aktiivitilat had a pioneering focus on the urban logistics segment, where we identified growing occupier demand, particularly in strong locations in Helsinki metropolitan area. Key to our investment strategy from the outset was finding a partner with a customer-oriented approach and the ability to implement sustainability-driven asset management initiatives, and in Aktiivitilat we found just that,” comments Joonas Lemström, Head of Nrep Finland.

 “Our active asset management has considerably improved the sustainability credentials of the portfolio and successfully leased premises to an attractive tenant base. The disposal, which aligns with our intended business plan, is one of the most significant transactions undertaken by Nrep in Finland in recent years,” Lemström continued.

“The urban logistics sector has delivered great opportunity for us. It requires a “hands-on” approach, active leasing, and always focusing on the customer’s needs. We are happy to see that this segment of real estate market is getting the recognition it deserves,” comments Jukka Torvinen, CEO of Aktiivitilat AM Oy.

“We are excited to acquire this collection of well-located urban assets. Finland is one of our key logistics markets in the Nordics, especially Helsinki, where we continue to see low vacancy levels and strong demand for infill warehouse space,” comments James Seppala, Head of Real Estate Europe, Blackstone.


Nrep was advised by JLL, Avance and PWC on the transaction. Blackstone was advised by Cushman & Wakefield, Roschier, PWC, Arcadis and Nova Ambiente.