Deka clinches €176m Helsinki office leaseback deal

German fund manager Deka Immobilien has bought the nine-storey Sanoma House office in Helsinki from Dutch/Finnish media firm Sanoma in a sale-and-leaseback deal worth €176 mln.

Sanoma has agreed to lease the 25,500m2 site for a minimum of 15 years. The building is in the centre of the Finnish capital, near the National Museum, and was opened in 1999.

'The transaction is one of the biggest-ever among office buildings in the central business district. There was very strong interest in the property, with offers from multiple countries,' said Harri-Pekka Kaukonen, CEO of Sanoma Corporation.

It will be added to the portfolio of Deka-Immobilien Global and marks the fund manager's first step into the Finnish market.