An unnamed German fund is buying Business Park Safiiri in Finland for EUR 50 mln. The vendor is Finnish construction group YIT.
An unnamed German fund is buying Business Park Safiiri in Finland for EUR 50 mln. The vendor is Finnish construction group YIT.
The property is next to the Iso Omena shopping centre in Espoo.
'The past year has shown that new international funds are interested in the Nordic market and are willing to invest in lucrative projects also in Finland,' said Seppo Martikainen, vice president of transactions at YIT.
When finished, Business Park Safiiri will comprise 14,000 m2. The principle tenants long-term lease agreements will be the technology company Outotec and HUS (the Hospital District of Helsinki and Uusimaa).
Construction of Safiiri has been started, and will be completed in two parts. The first phase covers approximately 8,800 m2 and will be completed in March 2012. The second phase of approximately 5,300 m2 will be started in March 2012 and completed in June 2013. An international Gold level LEED certification is sought for Safiiri.
Newsec Advice and Castren & Snellman Attorneys acted for the buyer and Krogerus Attorneys for the seller.
