German property fund Degi announced its first move into Finland this week by acquiring a portfolio of five office buildings in Helsinki totalling 59,482 m[sup]2[/sup] for EUR 159.7 mln. The vendor is Finnish insurer Veritas. Degi managing director Malcolm Morgan said that the portfolio would give the fund fast and efficient access to new property markets and the ability to simultaneously diversify several different funds.
German property fund Degi announced its first move into Finland this week by acquiring a portfolio of five office buildings in Helsinki totalling 59,482 m2 for EUR 159.7 mln. The vendor is Finnish insurer Veritas. Degi managing director Malcolm Morgan said that the portfolio would give the fund fast and efficient access to new property markets and the ability to simultaneously diversify several different funds.
Three fully let interlinked buildings in the Haaga submarket will be owned by the Grundwert-Fonds. Two further properties are earmarked for DEGI Global Business, which focuses on the needs of institutional investors and affluent private customers. One of the office properties, totalling 15,524 m2, most of which is let to TEKES, the Finnish Funding Agency for Technology and Innovation, is in the Pasila submarket. The last, with a total lettable space of 4,278 m2, is located in Helsinki's central business district and has been let to the Finnish Ministry of the Environment. Following Degi's first office acquisition in Romania in August, the Helsinki deal means the company has now invested in 13 countries.
