One of Macquarie Asset Management’s real estate funds is investing €39m to develop two office buildings in Finland.

The development, funded by the Macquarie GLL European Property Fund, will be located in central Helsinki’s Pasila district and adjoin the 19,700sqm Ilmalanrinne office complex acquired in 2019 by the fund, the manager said.

The development will add 11,500sqm of floor space to the complex, with construction expected to be completed in the first quarter of 2023.

Dana Gibson, co-head of Macquarie Asset Management’s real estate team in Europe, said: “I am delighted that we are moving forward with this exciting development project in Helsinki’s growing Pasila precinct.

”This follow-on investment at our Ilmalanrinne site is a demonstration of our engaged approach to asset management and focus on the wellbeing of tenants.”

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