Genesta has acquired an office property located in Helsinki's Kamppi district from Schroder Real Estate KVG. The property has a total lettable area of approximately 9,300m2 and is currently multi-let to 13 tenants.
"This investment exemplifies the potential that lies ahead, even in a slower market. It underscores our commitment to create long-term value with a robust, high-quality, and sustainability-focused value-added portfolio across the Nordics," said David Neil, Genesta's CEO.
During Genesta’s hold the property’s ESG profile will be improved. in addition to significant upgrades to the premises and common areas, an action plan is in place to ensure energy efficiency that will reduce the building´s carbon footprint in alignment with the EU taxonomy.
"We are excited to expand our Finnish portfolio with this acquisition. We see a huge potential for the asset. The Kamppi district, with its excellent connectivity and proximity to the CBD, is a very strong location and we are now eager to start our development work to take the property to the next level," said Antti Laine, transaction project leader Genesta.
Aleksandra Attorneys, KPMG, Granlund, and Marsh were Genesta's advisers during the acquisition.
