Landmark office scheme Sampotalo has been sold by Schroder Real Estate.
Niam confirmed it has acquired the office building in the centre of Turku, which serves as home to the central administration of the city.
It spans 10,400 m2 let to the municipality under a long lease.
Antti Muilu, country manager at Niam, said it was a rare opportunity.
‘We are very pleased with the high quality of Sampotalo, and the acquisition aligns well with our recent investment in the Lyyra office building in Helsinki.’
Sampotalo is said to be iconic functionalist building, constructed in 1937-1938 and was designed by architect Erik Bryggman to serve as the headquarter of the insurance company Sampo.
Over the years the building has been extended and renovated several times and the latest large refurbishment has just been completed.
Through the refurbishment Sampotalo received Breeam excellent rating and is now a modern, sustainable office space, tailored to the needs of the office occupier, City of Turku.
The price was not disclosed.
