Aareal Nordic Fund, managed by a 100% subsidiary of Aareal Asset Management, has acquired its fifth property in Finland, bringing its portfolio in the country close to the EUR 100 mln mark. The 10,000 m[sup]2[/sup] office building is leased to Shell Oil and serves as their headquarters in Finland.
Aareal Nordic Fund, managed by a 100% subsidiary of Aareal Asset Management, has acquired its fifth property in Finland, bringing its portfolio in the country close to the EUR 100 mln mark. The 10,000 m2 office building is leased to Shell Oil and serves as their headquarters in Finland.
Aareal's head of Nordic Acquisitions Lars Blanke said: 'With this acquisition, we underline our commitment to the Finnish real estate market which benefits from strong fundamentals. Our active investment strategy will continue in 2007 with further acquisitions for the Nordic Fund planned also in Sweden and Denmark.' Aareal Asset Management has offices in Wiesbaden, Amsterdam, Paris, Milan and Stockholm and has EUR 1.9 bn in assets under management.