Genesta has sold the prime office property “Fab 9” on behalf of its fund, GNRE Fund II, to KanAm Grund Group. The 7,600m² building in central Helsinki was acquired in July 2016 and has since been upgraded to a modern standard and renovated to fit the tenants´ needs. The property was awarded with the certification BREEAM In-Use level Excellent in 2021.
"We are pleased with how we have improved the building during our hold. Today it is almost fully leased and modernized prime office property with strong ESG performance. Our proactive hands-on management will deliver a solid return for our investors," commented Genesta’s CEO David Neil. "We continue to look for attractive opportunities in Helsinki and across the Nordics".
“Fab 9” is located on the Kasarmitori Square in Kaartinkaupunki. The area is a preferred office location for several law firms and is home to multiple larger corporate headquarters. In 2020 the property was anchored by a top tier law firm occupying approximately 70% of the building. CBRE and Aleksandra Attorneys advised Genesta in the transaction
