Brunswick's Kielo expands portfolio with fifth acquisition

Kielo, the new real estate firm set up by Brunswick Real Estate, has made its fifth acquisition Finland.

Kielo said it has added a 53,000sqm office portfolio with three properties situated in the Helsinki Metropolitan Area to its portfolio. The portfolio was acquired from Nordic investment manager Niam for an undisclosed sum.

The three properties are situated around Helsinki; Vantaankoski, Herttoniemi and Leppävaara.

In October last year, Nordic fund manager Brunswick formed Kielo to invest in commercial real estate in growing Finnish cities.

The latest transaction, Kielo’s fifth acquisition, takes the value of the property company’s portfolio to around €500m.

Patrik Andersson, a partner at Brunswick Real Estate, said: “We are very happy to announce the completion of Kielo’s first acquisition in the Helsinki Metropolitan Area.

”The acquired assets strengthen the attractiveness of the Kielo portfolio further. Our investment strategy continues to focus on modern and high-quality offices situated in established locations.”

Hanna Rauhala, a fund manager at Brunswick, said: “Looking back on the company’s first year, we have been successful in following-through on both our acquisition and asset management strategy.

”Our goal for the coming year is to continue the growth of the company and the portfolio.”

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