German property fund manager Union Investment has acquired the Alberga A property, part of Business Park Alberga in Espoo, near Helsinki for EUR 37 mln. The project has been added to the Immo-Invest: Europa open-ended real estate fund. The vendor is NCC Property Development.
German property fund manager Union Investment has acquired the Alberga A property, part of Business Park Alberga in Espoo, near Helsinki for EUR 37 mln. The project has been added to the Immo-Invest: Europa open-ended real estate fund. The vendor is NCC Property Development.
The deal was announced in late December.
Alberga A is the first phase of Business Park Alberga and is scheduled for completion in December 2011. In total, the property comprises approximately 9,000 m2 of office space, of which 90% has already been leased.
The property will have an environmental classification according to BREEAM and will achieve the 'very good' level. It will also be designed as a green building, which means that its energy consumption will be 25% below the prevailing public norms.
Business Park Alberga consists of a total of five properties, which will jointly comprise 34,000 m2 of office space, 2,000 workplaces and 700 parking spaces.
Earlier in December Union Investment Real Estate acquired the Pilke office property, part of the Plaza Business Park scheme in Helsinki's office market Vantaa Aviapolis, from NCC Property Development. The investment volume was SEK 170 mln (almost EUR 19 mln).
The property will be added to one of Union Investment's institutional real estate funds. It marks the company's third investment in the Helsinki property market.
