Deutsche Bank's RREEF Real Estate said on Wednesday that its grundbesitz europa open-ended fund has made its first acquisition in Helsinki, Finland, with the purchase of the Safiiri building from Finnish developer YIT. The transaction price amounted to EUR 50 mln.
Deutsche Bank's RREEF Real Estate said on Wednesday that its grundbesitz europa open-ended fund has made its first acquisition in Helsinki, Finland, with the purchase of the Safiiri building from Finnish developer YIT. The transaction price amounted to EUR 50 mln.
The eight-storey building is located in a new development area of Helsinki and provides 14,200 m2 of office, commercial and residential space as well as 216 parking spaces. It is majority let to health services organization HUS and technology solutions group Outotec.
'High inflows in recent months and a good cash cushion of about 30% allow us to diversify geographically the portfolio of grundbesitz europa,' said Ulrich Steinmetz, managing director of RREEF Real Estate in Germany.
