SEB ImmoInvest adds two new properties to its portfolio

German asset manager SEB Asset Management said it has placed two completed development properties in its property fund SEB ImmoInvest. With the addition of the two new properties in the Finnish capital Helsinki and the city of Deventer in the Netherlands SEB ImmoInvest now has a portfolio comprised of 136 properties in 17 countries.

SEB ImmoInvest's new Finnish property, known as Opus 1, was acquired from NCC Property Development in a package at the end of 2006. It is part of the Opus office park being constructed in the Herttoniemi submarket in the Helsinki city centre. The new five-storey building has a leasable area of 6,830 m² and 165 parking spaces and was added to the portfolio upon completion for EUR 29.5mln. The property is almost fully let, while SEB said the lease with anchor tenant Ixonos, a Finnish IT consulting and software development company, has a term of five years.

The second new portfolio property is an office building known as the Odysee in Deventer. Together with the Colisee building, which was completed in September 2007, SEB said the new Odysee building has total rental spaced of 7,105 m². The property is worth EUR 10.8mln and was part of a Dutch real estate portfolio acquired last year from Eurocommerce Holding in an EUR 125mln off-market transaction.