Fennia Life divests three modern logistics properties in Greater Helsinki area and in Tampere region (FI)

Keva has purchased a modern logistics property in Tuusula, Helsinki metropolitan area (HMA), from Fennia Life with approximately €15 million.

The refrigerated warehouse was constructed in 2007 and has a lettable area of approximately 11,300 m². The property is fully let to Valio Ltd.

Sponda Fund II, managed by Sponda Plc, has acquired two logistics properties from Fennia Life. Properties are located in Espoo (HMA) and Pirkkala, near Tampere. Espoo property was completed in 2010 for the use of Lainapeite Ltd. The property in Pirkkala, completed in 2007, is leased to Komatsu Forest Ltd which is a Finnish subsidiary of Japanese Komatsu Group.

"Divestment follows our strategy to reduce our portfolio's allocation to logistics. Finadvice brought a great deal of additional value to the process acting as a sales advisor during the whole sales process. Currently, we are looking for investment opportunities among office, retail and residential properties," says Timo Rantala, Head of Real Estate Investments at Fennia and Fennia Life.

Finadvice Oy acted as sales advisor for Fennia Life during the sales process. During the last 20 months Finadvice has executed 10 major real estate transactions with a total asset value of approximately €300 million.

Source: Finadvice Oy

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