Kielo, the new property company set up by Brunswick Real Estate, has signed its second acquisition deal, buying a portfolio of nine office properties in the Finnish city of Jyväskylä.
Helsinki-listed property company Technopolis sold the assets for €104.5m, which it said was approximately their fair value.
Kielo said the acquisition also included the current Technopolis management organisation in Jyväskylä, which would become part of the Kielo organisation.
The transaction is expected to close before the end of this year.
Erik Widmark, partner at Brunswick Real Estate, said: “This portfolio fits perfectly within the Kielo investment strategy.
“Jyväskylä is a strong and growing market and these office properties represent some of the highest quality office stock in the city.”
Widmark said Kielo will continue with Technopolis’s well established service concept.
At the beginning of October, Patrik Andersson, partner at Brunswick Real Estate, said Kielo had an initial investment target of €1bn.
It began operations with the purchase of a 40,000sqm office in Tampere, buying the asset from Aberdeen Standard Investments.