Nordic office campus landlord Technopolis is selling €61 mln of assets as it reworks its Finnish portfolio.
Technopolis has signed an agreement to sell its remaining holding in Lappeenranta, as well as its Finnmedi campus in Tampere.
The buyer is a group of domestic investors comprising the investment funds eQ Care and eQ Finnish Real Estate, real estate investment company Investors House and Kampus Skinnarila, a company managed and partially owned by Investors House. The properties have a leasable area of 38,300 m2 in total.
Technopolis personnel in Lappeenranta will be transferred to the payroll of Investors House. The Finnmedi sale will have no impact on Technopolis personnel.
'This divestiture is part of our campus portfolio strategy to reduce and focus our Finnish exposure and it will provide additional firepower for expansion in the Nordic-Baltic region,' said Keith Silverang, CEO of Technopolis.
Technopolis owned 21 business parks, valued at €1.2 bn at end-September 2016. The assets housed 1,700 companies and their 49,000 employees in Finland, Sweden, Norway, Estonia, Russia and Lithuania. The Technopolis share is listed on Nasdaq Helsinki.
