Nyfosa Finland has invested €14.7m to buy a portfolio with industrial and retail properties in the Finnish regional cities of Oulu and Hyvinkää.
The newly created Finnish arm of Sweden-based real estate manager Nyfosa has bought the 9,000sqm portfolio of five properties with an annual rental value of €1.1m.
Earlier this year, Sweden-based real estate manager Nyfosa entered the Finnish market via a partnership with Brunswick Real Estate. The two firms teamed up to form the Finnish company with the aim of building up a SEK7bn (€682m) diversified property portfolio within five years.
Nasdaq Stockholm-listed Nyfosa said it will initially hold a 90% stake in the new company and the remaining 10% stake will be held by Brunswick Real Estate.
Brunswick Real Estate, which has operated in the Finnish market since 2006, leads operational activities relating to transactions, property management and sustainability under a management agreement.
Commenting on the latest acquisition, Hanna Rauhala, partner and head of Finland at Brunswick Real Estate, said: “We continue to build a good portfolio in the Finnish market. This acquisition complements the office portfolios and gives us modern industrial and retail properties in good locations with two well-established tenants.”
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