German real estate fund manager Deka Immobilien has acquired an office building in Helsinki for just over €43 mln.
German real estate fund manager Deka Immobilien has acquired an office building in Helsinki for just over €43 mln.
Deka acquired the property, Elimäenkatu 25-27 in the Vallila district of the Finnish capital on behalf of a special fund from Sweden's Sveafastigheter Fund III and its partner HGR Property Partners.
CBRE and Krogerus Attorneys acted as the sellers’ advisers in the transaction.
Sveafastigheter acquired two vacant properties located on Elimäenkatu 23-27 in Vallila in January 2011. Sveafastigheter has, together with its local asset management partner, HGR, leased both properties to a number of non-profit or public companies such as the Academy of Arts and the City of Helsinki. The current divestment relates to Elimäenkatu 25-27, which has an average lease length of 6.4 years. The property has been certified as LEED Gold. The neighbouring property was sold in late-2013.
The divestment of the office property in Helsinki is the third exit of a whole portfolio owned by Sveafastigheter Fund III, and the second exit in Finland. The fund has also completed a number of exits in Sweden and Denmark this spring.
Sveafastigheter is a Nordic property fund manager of assets in Sweden, Finland, Denmark and Estonia valued at €1 bn. Sveafastigheter is the investment management arm of Brunswick Real Estate.
