Meag has agreed to buy three office buildings in the HTC Keilaniemi business park in Espoo, Finland from the SRV Group for EUR 89 mln. The acquisition is the first in Finland by the Munich-based asset manager for Munich Re and Ergo Insurance Group. SRV is developing three seven-storey office blocks with a combined floor area of 38,000 m[sup]2[/sup] in Espoo. The final phase is due for completion in March 2009.
Meag has agreed to buy three office buildings in the HTC Keilaniemi business park in Espoo, Finland from the SRV Group for EUR 89 mln. The acquisition is the first in Finland by the Munich-based asset manager for Munich Re and Ergo Insurance Group. SRV is developing three seven-storey office blocks with a combined floor area of 38,000 m2 in Espoo. The final phase is due for completion in March 2009.
Meag said that Helsinki offers ideal conditions for investing in office projects due to rising rents and falling vacancy rates. The assets are earmarked for Meag Euro Pro, an institutional fund that invests in office buildings in major European cities. Meag currently manages assets valued at EUR 182 bn, of which around EUR 13 bn is in real estate.
