Northern European group Brunswick Real Estate has announced the launch of a new real estate subsidiary aiming to build up a €1 bn Finnish portfolio over time.
The new unit, named Kielo, has already completed its first transaction with the purchase of a 40,000 m2 office property in Tampere from Aberdeen Standard Investment. Financial details were not disclosed.
Brunswick said that Kielo will focus on high quality assets in prime locations generating high and stable returns through active and local asset management. It will be managed by Brunswick Real Estate.
'This is an opportune time in the business cycle for a well-capitalised and experienced team to assemble and actively manage a real estate portfolio in Finland. We believe Kielo will be a strong partner to the industry and we are excited about growing this company,' commented Patrik Andersson, partner at Brunswick Real Estate.
Brunswick's team includes 100 real estate investment professionals in Stockholm, Malmö, Helsinki, Copenhagen and London. The company stems from the merger of three Nordic property firms, Leimdörfer, Sveafastigheter and UK and Nordics-based Brunswick Real Estate Capital. The three firms have rebranded as Brunswick Real Estate in March 2017, when all Swedish operations relocated to a joint office in Stockholm.
