European Property Investors Special Opportunities IV (EPISO 4), an opportunity Fund advised by Tristan Capital Partners, and Varma Mutual Pension Insurance Company have sold a portfolio of eight office assets to Areim Fund III. The purchase price was not disclosed.
The portfolio comprises of 60,000m² of lettable space located mainly in the wider Helsinki Metropolitan Area. Tristan acquired the assets together with Finnish-based Avant Capital as part of a larger 12-asset portfolio in 2016. Three assets were sold in 2017 and an additional property in March 2018.
Jean-Philippe Blangy, Managing Director, Head of Asset Management at Tristan Capital Partners, said: “The Areim transaction marks the successful disposition of the entire portfolio, following a programme of active asset management. Together with our partner Avant Capital Partners we secured lettings of 23,500m², improving the overall institutional quality of the properties to meet the dynamics of the strengthening Finnish office market.”