Genesta has sold the historic office property Bulevardi 21 in Kamppi on behalf of its fund, GNRE Fund II, to NREP. The approximately 10,100m² building was purchased in December 2015 and has since undergone extensive refurbishment. The office spaces have been renovated to fit the tenants´ needs and the street level was converted into retail space. The street-level facade renovation has given the property a new and modern look. The nearly fully leased property was awarded with BREEAM In-Use level Excellent certification in 2021.
Bulevardi 21 offers an excellent location in the very centre of Helsinki, yet it occupies a private corner surrounded by parks and the sea. All of Helsinki’s services are just around the corner as are many attractive stores and restaurants. The financial terms of the deal were not disclosed.
"We are satisfied with how we have improved the building during our hold, both for our tenants and our investors, but also for the environment. Bulevardi 21 is now a modern and loved office building with strong ESG performance," said Genesta’s CEO David Neil. "I´m proud of the team. In a short time, we have made many good investments, but also excellent exits like this one."
