UBS fund acquires Finnish logistics asset for EUR 40m

A UBS fund is acquiring a logistics scheme in Vantaa, Finland from YIT Construction for about EUR 40 mln.

UBS Euro Core is buying two separate property companies that own 27,000 m² of modern warehouse and office space upon completion. The two parties have agreed to apply for international LEED certification for the properties.

The Tiilitie Logistics scheme is being completed in two phases. The first phase was completed in June 2011 and comprises 10,700 m² of fully let space.

The second phase is under construction and due for completion in spring 2012. It will provide premises of about 16,400 m2, of which Oy Lining will be the main tenant.