Nrep disposed of a Finnish urban logistics portfolio to funds managed by Blackstone. The Aktiivihallit Ky portfolio comprises 22 warehouse properties with a total leasable area of c. 133,000m2. 80% of the properties are located in the Helsinki metropolitan area.
Aktiivihallit Ky is a joint venture between Nrep and Aktiivitilat. The joint venture managed the portfolio to enhance the sustainability profile of the properties and lease the premises to high-quality tenants. Aktiivitilat AM Oy acted as the portfolio’s asset manager.
"Nrep’s joint venture with Aktiivitilat had a pioneering focus on the urban logistics segment, where we identified growing occupier demand, particularly in strong locations in Helsinki metropolitan area. Key to our investment strategy from the outset was finding a partner with a customer-oriented approach and the ability to implement sustainability-driven asset management initiatives, and in Aktiivitilat we found just that," commented Joonas Lemstrom, Head of Nrep Finland. “Our active asset management has considerably improved the sustainability credentials of the portfolio and successfully leased premises to an attractive tenant base. The disposal, which aligns with our intended business plan, is one of the most significant transactions undertaken by Nrep in Finland in recent years."
"The urban logistics sector has delivered a great opportunity for us. It requires a “hands-on” approach, active leasing, and always focusing on the customer’s needs. We are happy to see that this segment of the real estate market is getting the recognition it deserves," commented Jukka Torvinen, CEO of Aktiivitilat AM Oy.
“We are excited to acquire this collection of well-located urban assets. Finland is one of our key logistics markets in the Nordics, especially Helsinki, where we continue to see low vacancy levels and strong demand for infill warehouse space,” commented James Seppala, Head of Real Estate Europe, Blackstone.
Nrep was advised by JLL, Avance and PwC on the transaction. Blackstone was advised by Cushman & Wakefield, Roschier, PwC, Arcadis, and Nova Ambiente.
Image provided by FTI Consulting.
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