The Finnish arm of Sweden's Sagax has acquired a portfolio of 10 assets in the Helsinki metropolitan area from a real estate fund managed by Nordic Real Estate Partners (NREP). The assets, mainly used for warehousing and light industrial purposes, were bought for a price of SEK 327 mln (EUR 34 mln).
The Finnish arm of Sweden's Sagax has acquired a portfolio of 10 assets in the Helsinki metropolitan area from a real estate fund managed by Nordic Real Estate Partners (NREP). The assets, mainly used for warehousing and light industrial purposes, were bought for a price of SEK 327 mln (EUR 34 mln).
The properties are around 96%-leased and provide 43,000 m2 of total space. Scandinavian real estate services firm Finadvice advised Sagax on the deal.
'These properties complement our already strong real estate portfolio in Finland,' said Jaakko Vehanen, managing director of Sagax Finland.
The operation brings the transaction volume brokered by Finadvice to some EUR 110 mln since its launch in autumn 2009. The advisory firm was created by two former managers of Royal Bank of Scotland's Nordic arm, Sami Jarvelainen and Anders Nordlund, in partnership with Harri Saravuo and Joni Koski, who joined from Newsec.
Sagax is a Stockholm-listed real estate investment company with a portfolio of nearly 1 million m2 in Sweden and Finland.
