Property adviser Newsec acted for Stora Enso and not the buyer, as we initially said in our report: 'Deka acquires Stora Enso HQ in leaseback deal' (newsletter 10 June 2008)
Property adviser Newsec acted for Stora Enso and not the buyer, as we initially said in our report: 'Deka acquires Stora Enso HQ in leaseback deal' (newsletter 10 June 2008)
Deka acquires Stora Enso HQ in leaseback deal
Date: 10 June 2008
German property fund manager Deka Immobilien has signed an agreement to acquire the head office of Swedish-Finnish paper manufacturer Stora Enso in Helsinki for EUR 30mln. Stora Enso will rent the 6,500 m2 property back from WestInvest InterSelect, one of the Deka Group's funds, for a period of two to three years.
Ulla Paajanen-Sainio, vice president, investor relations and financial communications at Stora, told PropertyEU the company plans to move at the end of this period to rented accommodation in the Helsinki metropolitan area that 'better suits its future needs'. Information on the rental agreement was not disclosed.
The property in Helsinki was designed by architect Alvar Aalto as the head office of Enso Gutzeit and was inaugurated in 1961. Property advisor Newsec acted for Stora Enso.
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