Global real estate investment manager LaSalle Investment Management has advised the LaSalle E-REGI Fund on its acquisition of a landmark office building in central Helsinki for €45.5 mln.
According to the firm, the property, known as Arkadia, is close to fully-let to a diversified tenant base.
The office building was designed by the Finnish architect Toivo Paatela and built in 1932, with the most recent renovations completed in 2019. The multi-use property has a total lettable area of more than 10,000 m2 and is home to a range of tenants, including the Finnish Institute of International Affairs, the Research Institute of the Finnish Economy, and OP Financial Group.
Uwe Rempis, managing director and fund manager of LaSalle E-REGI, said: 'Finland has responded to the Covid-19 pandemic efficiently to date and we are optimistic about the country’s long-term economic prospects.
'We are pleased to have completed this acquisition of one of Helsinki’s most prestigious office buildings, which aligns with our strategy of investing in long-term income producing assets with low risk profiles, while increasing the Fund’s exposure to the Nordics, a target geography.'
LaSalle was advised on the transaction by DLA Piper (legal), Vahanen Group (technical), PwC (tax) and Cavendo AB (commercial advisor and future asset manager of the property).
The seller was advised by Castren & Snellman (legal) and Catella (financial advisor).
