Commerz Real buys office property in Helsinki for EUR 41m

Commerz Real has acquired the Lintulahti Office Building in Helsinki on behalf of its hausInvest europa open-ended real estate fund for a total investment of EUR 41 mln. The vendor is Swedish construction and development firm Skanska.

The 11,000-m² building was completed in 2009 and was Skanska Commercial Development Nordic's first own office development project in Finland. Lintulahti was also the first building in the Nordic region to achieve pre-certification under the international environmental rating system LEED.

Over 90% of the gross lettable area is let to 'two parties with superior credit ratings from the public and service sectors, respectively,' Commerz Real said. The remaining 10% is secured through a three-year rental guarantee.

'The acquisition of the sustainable Lintulahti Office Building marks the addition of another high-end property to hausInvest europa,' commented Hans-Joachim Kühl, head of real estate acquisitions at Commerz Real.

The German investment company acquired the Swing Life Centre in Espoo for the fund in 2009.