Exilion Real Estate I Ky managed by Exilion Capital Oy today signed a contract to purchase the Nokia Oyj headquarters property with 170 million.
Located in the Keilaniemi area of Espoo, Finland, at Keilalahdentie 24, the real estate unit includes three office buildings constructed between 1996 and 2001 and a parking garage serving the offices. The leasable area encompasses circa 48,000 m², and the parking garage offers approximately 1,250 spaces. We expect to complete the sale by the end of 2012. In connection with the purchase, all premises are leased back to Nokia Oyj on a long-term lease.
"Because of the quality of the building, location, and long-term contract, this property fits very well into our investment strategy. We are proud to partner with a company like Nokia. The deal nearly doubles the value of the fund's property portfolio; we are actively looking for even more properties as well as aiming to start new funds," says managing director Ari Talja of Exilion Capital Oy.
Source: Exilion Capital Oy