Amplion fund acquires 50,000m[sup]2[/sup] portfolio in Finland

The ANL Kiinteistöt 1 fund, which is managed by Sweden's Amplion Asset Management, has acquired a major office/retail portfolio in Finland from Trackside Holding for an undisclosed sum.

The portfolio comprises 10 office/retail assets that are located in cities all over Finland. The locations include Helsinki, Tampere, Lahti, Oulu, Jyväskylä and Rovaniemi. The lettable area of the portfolio is approximately 50,000 m² and the biggest tenant is Nordea Bank Finland.

'This portfolio provides investors with a stable cash flow and an attractive cash yield. Amplion is responsible for the management of the fund as well as the profitability of the investment. We are happy that we have been able to find investors with equity and adequate bank financing for this transaction in the current difficult market environment', said Reima Södervall, deputy managing director of Amplion.

Timo Nurminen, managing director of Amplion Asset Management, added: 'This transaction is an excellent example of Amplion’s strategy where remarkable value can be created through active asset management. We are looking for similar projects within our operating environment in Europe together with our investors'.

The Amplion Group has more than EUR 1 bn of assets under management and is part of the Catella Financial Advisory Group, a European investment bank with operations in 15 countries and 300 employees.