Fund manager Nordic Real Estate Partners (NREP) has acquired three logistics centres on the Helsinki-Tampere highway in Finland.
The assets, totalling 50,000 m2, were sold by Ahlström Kiinteistöt by NREP Nordic Strategies Fund II.
'The properties are let with long-term leases to strong covenant tenants. The Helsinki-Tampere highway is the main highway in all of Finland and its traffic volumes are set to grow substantially in the future, securing strong demand for logistics space at these locations,' said NREP director Petri Valkama.
Two of the properties are located in Hämeenlinna in the Moreeni area, and one is located in Akaa in the immediate vicinity of the Helsinki-Tampere highway. The properties are already let with long-term rental agreements to Fiskars Finland, Posti Kiinteistöt and Coveris Rigid Finland.
NREP Nordic Strategies Fund II invests mainly in retail, logistics and residential properties in the Nordic region. The fund is backed by a number of blue-chip international institutional investors. The fund made its first investments in spring 2016, and will invest more than €1.5 bn in the Nordic real estate market.
NREP's €3 bn of assets under management includes 1 million m2 of logistics space in the Nordics.
