A fund managed by VVT Real Estate Investment has acquired a €100m health centre property in Finland’s capital from Deka Immobilien.
VVT Property Fund II KY has bought the fully let Kalasatama Health and Wellness Center in Helsinki from Deka’s open-ended real estate fund WestInvest ImmoValue.
Deka acquired the property in 2015 as a project development in its early phase. The 18,250sqm property complex located at Työpajankatu 14 was completed in 2017 and commissioned at the beginning of 2018.
Deka said the asset was sold because it no longer aligned with WestInvest ImmoValue’s current investment strategy, adding that “over a holding period of around ten years, the property made a positive contribution to the fund’s performance”.
JLL advised Deka in the sale of the asset.
Jere Fredriksson, investment director at VVT, said: “We are delighted to acquire the Kalasatama Health & Wellbeing Center —an exceptional property that stands out for its strong ESG credentials, modern design, and essential role in supporting public health services.
“Its prime location in the vibrant Kalasatama district—adjacent to excellent transport connections and the REDI shopping centre— further enhances its long-term value. This acquisition reflects our strategy of investing in sustainable, high-quality and future-proof assets.”
Antti Pelli, senior director, capital markets, JLL Finland, said: “We are privileged to have had the opportunity to advise Deka in the sale of a truly unique building, which is also the largest single-asset transaction in Finland thus far this year.
“This landmark deal underscores the extremely robust investment fundamentals for social infrastructure and public properties and is yet another indication that the property market is gaining momentum in Finland.”
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