Global private markets firm Partners Group and Trevian Asset Management have inked a large-scale logistics real estate transaction in Finland.
Financial details were not disclosed.
Trevian, which will act as asset manager and grow the portfolio further, acted as Partners Group's advisor for the purchase of the SaKa Hallikiinteistöt portfolio. The sellers were Mandatum and Kaleva Mutual Insurance Company.
The portfolio contains 140,000 m2 of real estate in Finland's most central logistics and industrial areas.
Trevian's investment director, Risto Vuorenrinne, said: 'We are proud that we were able to facilitate the completion of the transaction. In the future, our goal is to increase the portfolio even further, and buy more assets of similar characteristics.
'Amidst the challenges of the general market situation, we establish a new and important relationship with Partners Group through this transaction, further strengthening our position as Finland's leading commercial real estate asset manager.'
The SaKa portfolio transaction, which includes a total of 20 properties, is one of the largest in Trevian’s history. Partners Group, acting on behalf of its clients, is the primary owner, while Trevian is also invested in the portfolio and will continue as the real estate asset manager of the portfolio.
Partners Group, alongside Trevian, will execute the value creation plan and seek to scale the portfolio into a leading platform in Finland.
Key value creation initiatives will include re-leasing assets at market rents, executing extensions to fulfil tenant expansion needs, as well as targeted capex initiatives to upgrade facilities with a strong focus on ESG-enhancement.
'We have been actively targeting the logistics sector across Europe and investing in select opportunities in strategic growth locations. The way we work, live, and consume is fundamentally changing and is increasing the demand for logistics occupiers in Finland, an export market relying on logistics to support its key economic industries,' said Johan Johansson, private real estate Europe, at Partners Group.
