German fund manager Commerz Real has acquired a Finnish office complex project for its open-ended real estate fund.
Commerz Real said it bought the 49,500sqm Tripla Workery development in Helsinki on behalf of the Hausinvest fund for an undisclosed sum.
The seller is the Finnish project development company YIT Construction.
The construction will be completed in 2020 and will be made up of three office towers.
Henning Koch, the global head of transactions at Commerz Real, said: “The scope and quality of the development of this district is unique not only for Finland and will contribute to a significant enhancement of what is already a very good location.”