A core-plus perpetual fund advised by Tristan Capital Partners has bought five office buildings and development rights in Helsinki.
The CCP 5 LL fund acquired the Spektri office buildings, which includes three parking sites with unconditional development rights, for an undisclosed sum.
Tristan said it will team up with Trevian Asset Management as local asset manager on the further development of Spektri.
Spektri consists of five modern office buildings comprising 35,000 sqm net lettable area and is located in Otaniemi, the western business district of Helsinki.
Anne-Jan Jager, director at Tristan, said: “Spektri is an exciting investment opportunity that provides a strong, diversified cashflow from 110 companies and has a 90% occupancy.
“With circa 2,000 professionals, Spektri is an established and important employment centre in Helsinki and the development rights will provide the opportunity to expand the ongoing mixed-use transformation of the area.”
The transaction marks the 19th transaction of Tristan in the Nordics since inception. The total value of the pan-European investment manager’s deals in the Nordic markets now stands at over €1.5bn.