Union Investment has sold a 9,100m² office property in northern Helsinki. The eight-storey building, which includes an underground car park offering 150 spaces, is fully let to Skanska on a long-term lease. The buyer, Corum Asset Management, is seeking to boost its exposure to Finland. Catella Property Oy brokered the transaction on behalf of the vendor. The purchase price was not disclosed.
Skanska completed the building at Nauvontie 18 in 2012 and sold it to Union Investment in 2013 in a sale and leaseback transaction. Since then, the building has been part of the portfolio of open-ended real estate fund UniInstitutional European Real Estate. The property holds LEED Platinum rating.
Despite this disposal, Union Investment retains a strong interest in investing in Helsinki and other major northern European cities. The Hamburg-based real estate investment manager owns seven commercial properties in the Helsinki area worth a total of c. €320m.
