BlackRock Real Assets’ Eurozone core property fund has added a 12,200sqm mixed-use retail and office asset in Helsinki to its portfolio.
The BlackRock Eurozone Core Property fund bought the asset in the central business district of Helsinki last month.
The latest deal is the fund’s third investment, following the acquisition of an office asset in Hamburg and a portfolio of two logistics assets near Munich and Regensburg.
The fund offers its investors diversified exposure to income-generating core real estate, in an open-ended vehicle.
BlackRock said the has an active investment pipeline and will continue to diversify its exposure across the Eurozone’s most liquid markets.
Ian Williamson, the portfolio manager of the Eurozone Core Property Fund, said: “This transaction is representative of one of our key strategies: seeking very well-located properties presenting opportunities for generating income growth, and also furthers our portfolio diversification with office and retail exposure in a fantastic location, backed by a growing Nordic economy.”
Victor Persson, the vice president, BlackRock Real Assets, said: “We are pleased to have made our third investment in Helsinki on behalf of funds managed by BlackRock Real Assets in the last year, where the market is driven by strong tenant demand for good space.
“This historic building also has the advantage of offering both high-quality retail and office space.”