A fund managed by Nordic real estate manager Areim has bought a portfolio of eight office assets in Finland from Tristan Capital Partners’ fourth European property investors special opportunities vehicle.
Tristan said European Property Investors Special Opportunities IV (EPISO 4) and Varma Mutual Pension Insurance Company, as a co-investor in the deal, have sold the portfolio for an undisclosed sum.
The portfolio comprises of 60,000sqm of lettable space located mainly in the wider Helsinki Metropolitan Area.
Tristan acquired the assets together with Finnish based Avant Capital Partners as part of a larger 12-asset portfolio in 2016. Three assets were sold in 2017 and an additional property was sold in March this year.
Jean-Philippe Blangy, the managing director and head of asset management at Tristan Capital Partners, said: “The Areim transaction marks the successful disposition of the entire portfolio, following a programme of active asset management.
“Together with our partner Avant Capital Partners, we secured lettings of 23,500sqm, improving the overall institutional quality of the properties to meet the dynamics of the strengthening Finnish office market.”