Genesta’s new fund, Genesta Nordic Real Estate Fund II, has acquired two prime office property assets, Antinkatu 1 and Bulevardi 21, in the city centre of Helsinki from Senate Properties. The total purchase price of the assets is €36.3 mln.
Antinkatu 1 offers some 11,200 m² of lettable office space and is located in the Kamppi district, just 100 meters from the Kamppi Shopping Center and Metro Station. The building was constructed in 1952 for the purpose of housing the Finnish state printing house and was later refurbished and developed for office use. The National Audit Office and TE-Services are currently the main tenants at Antinkatu.
Bulevardi 21 meanwhile offers some 10,100 m² of lettable space and is located on one of Helsinki’s most attractive and well-known streets, neighboured by high quality cafés and restaurants. The property at Bulevardi 21 was constructed in 1961 as an office building for the Finnish state including the Local Registrar Office which currently occupies several floors in the building.
According to Finnish legislation, the transaction requires the approval of Finland’s parliament, and this is expected by the end of 2015.