pbb Deutsche Pfandbriefbank provided an investment facility of €78m for the acquisition of an office property located in Valilla in the Helsinki city centre to Fleming Properties, a property company set up by Pareto Securities. The 41,000m² office block consists of two buildings and underground parking well served by the metro as well as multiple tram and bus connections. The property is occupied on a long lease by SOK, the central organisation of S Group, the market-leading retail and service company in Finland. SOK has a long history in the buildings, which were originally constructed in the 1920s and 1990s and now finalizing a complete refurbishment.
Norbert Muller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: “We are very pleased to continue to grow our relationship with Pareto and to be able to support them in the acquisition of SOK’s headquarters in Valilla”.
Philip Soderqvist, Head of Project Finance Sweden at Pareto Securities, said: “We are very pleased to have acquired this top-quality building and to grow our Nordic real estate portfolio worth some €5bn alongside pbb Deutsche Pfandbriefbank. The Finnish market is of strategic importance to us and this acquisition further strengthens our presence in the Finnish real estate market but also increases our position as one of the largest real estate managers in the Nordics. We are looking forward to additional acquisitions together with the team at pbb Deutsche Pfandbriefbank."
