Cordea Savills acquires Finnish asset for €60 million (FI)

Cordea Savills, the international property investment manager, has acquired a prime property on the main pedestrian street in Helsinki's Central Business District for around €60 million. The property was purchased from Nordea Life Assurance Finland Limited.

Cordea Savills Building

The property extends to 10,519 m².

The property, located at Aleksanterinkatu 11, extends to 10,519 m². Around 70% of the building comprises the Finnish headquarters of Svenska Handelsbanken while the remainder is retail, with well-known tenants such as H&M and Dressmann.

Håkan Blixt, Head of Investment, Nordic region, commented: "We are delighted with this acquisition. The property has excellent covenants with high quality tenants and there are opportunities to add value through reconfiguring the premises.

"The Nordic region remains a favored investment location for Cordea Savills. The economic fundamentals, tenant covenants, quality of stock and pricing all support continued investment."

Cordea Savills has an established Nordic investment team based in Stockholm with assets under management in excess of €350 million in the region.

Source: Citigate Dewe Rogerson

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