Tuesday, 2 December 2014
Exilion has sold an office property to AXA Real Estate for €64.8 million (FI)
Exilion Real Estate I Ky, managed by Exilion Capital Oy, has today sold the shares of the mutual real estate company called Kiinteistö Oy Espoon Keilalahden FG-talo for approx. €64.8 million to a fund managed by AXA Real Estate. The purchase price corresponds to a net initial yield of approx. 5.8%.
Kiinteistö Oy Espoon Keilalahden FG-talo owns an office property located in the address of Keilalahdentie 2–4 in Keilaniemi, Espoo.
The office building has been built in 2001 and has a lettable area of approx. 17,076 m² and it also has a right to use 404 parking spaces in the adjacent parking house. The office property is let to Microsoft Mobile Oy with a long-term lease. The office property is part of the entity Exilion acquired from Nokia Oyj in 2012. The two additional office properties as well as the parking house property will remain in Exilion’s ownership.
"This transaction is part of the reshaping of our current real estate portfolio. We will continue to make new real estate investments into our current real estate portfolio as well as into new portfolios under management”, says Mr. Ari Talja, the managing director of Exilion Capital Oy.
Advium Corporate Finance Ltd and Krogerus Attorneys Ltd acted as advisors to Exilion in relation to the transaction.