US private equity group Blackstone has invested €100 mln to acquire a 84,000 m2 logistics facility at the Vuosaaren sea port in the Finnish capital Helsinki.
US private equity group Blackstone has invested €100 mln to acquire a 84,000 m2 logistics facility at the Vuosaaren sea port in the Finnish capital Helsinki.
The acquisition was carried out by Tellurium Investment, a subsidiary of the Blackstone Real Estate Partners Europe IV fund.
The vendor was Helsinki-listed property company Sponda, which is withdrawing from the logistics sector and international markets to focus on office and retail assets in the largest Finnish markets.
Sponda said the sales price corresponded to the fair value of the properties at end-September 2015. The transaction is expected to complete by mid-December.
The properties in Vuosaari harbour, constructed by Sponda, consist of 65,000 m2 of logistics area, the 15,000 m2 Porttikeskus (port centre) and the 4,300 m2 Vuosaari Service Center.
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