Valad Europe, part of Cromwell Property Group, and Goldman Sachs have bought 22 Finnish real estate assets.
The joint venture bought the Omega portfolio, which will be managed by Valad.
The 109,000sqm portfolio includes 13 office buildings, five industrial buildings and four buildings with primarily retail use.
More than 80% of the portfolio, which is let to 200 tenants, is in the Helsinki Metropolitan Area, which includes the cities of Helsinki, Espoo and Vantaa.
Tomas Beck, Valad’s head of Nordics, said the portfolio had “a mix of high quality office buildings”, such as Stella Terra, part of the Stella Business Park in Leppävaara.
The most prominent building in the portfolio is the Kaisanimenkatu 13 office building, on the edge of Helsinki’s central business district.
It also includes “properties with potential for value-adding activities”, he said.
“The Omega portfolio provides opportunities for us to use our local knowledge to create significant value through a variety of strategies.
“These include leasing, re-zoning for residential use and the creation of sub-portfolios of institutional grade investment properties that will attract a wider group of investors.”
