Kielo, the new Finnish real estate subsidiary launched by Northern European group Brunswick Real Estate, has announced the purchase of nine office properties in the Finnish city of Jyväskylä.
The €105 mln purchase is the second made by Kielo, which aims to build up a €1 bn portfolio over time.
The centrally located portfolio providing a total of 49,000 m2 of space was sold at its fair value, according to the vendor, Helsinki-listed property firm Technopolis.
As part of the deal, the Technopolis personnel in Jyväskylä will transfer to the payroll of the new owner.
The transaction is expected to close before 2017 year-end.
Erik Widmark, partner at Brunswick Real Estate, said that the portfolio fits perfectly within the Kielo investment strategy. 'Jyväskylä is a strong and growing market and these office properties represent some of the highest quality office stock in the city,' he said.
Kielo's investment strategy is to focus on high-quality assets in growing Finnish regional cities. Kielo was established in October 2017 to build up a €1 bn portfolio providing high and stable returns.
'We will continue to focus on properties and campuses that offer sufficient future value creation potential,' commented Keith Silverang, CEO of Technopolis.
