CNP Assurances entrusted real estate group Hines with the task of acquiring a new-build office property in Helsinki, Finland. This marks the Group and Hines’ first step in Finland.
Kasarmikatu 21 is a new office property in the heart of Helsinki’s business district. CNP Assurances bought the building from the development consortium made up of HGR Property Partners, YIT and Ahlström Capital.
Delivered in December 2017, all Kasarmikatu 21’s offices have been leased to renowned companies, each an expert in their specific field. Spanning approximately 16,000 m² across seven floors, the building is the first new office property to be built in Helsinki’s business district for the past three decades. The building has been constructed in accordance with LEED Platinum certification.
The buyer was advised by Bird and Bird, EY and Ramboll Finland. The sellers were advised by CBRE and Avance Attorneys.
“The building is constructed in accordance with LEED Platinum certification and meets the highest of standards in terms of quality, eco-friendliness and energy efficiency. This investment reflects CNP Assurances’ goal of reducing its real estate energy consumption levels by 20% by 2020, as part of its energy and eco-friendliness transition initiative,” explains Daniel Thébert, head of real estate investment and infrastructure at CNP Assurances.
In 2015, Hines launched an expansion program aimed at rolling out across Nordic countries. To date, the group has acquired assets in Norway, Denmark and Finland, and holds assets of around €500m. Overseen by James Robson, the platform manages and develops these assets from its head office in Copenhagen.
As James Robson, Managing Director at Hines Nordics, puts it, “Thanks to its stable economy, transparent and watertight regulations, innovative business environment and high standard of living, Finland is an attractive investment prospect. We’re very pleased to be taking our first steps in this market, particularly with
