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Exilion Real Estate makes €164M sale of Finnish office, parking assets

Exilion Real Estate I Ky sold two office buildings and a parking house in Espoo, Finland, for €164 million to a fund managed by Deutsche Asset Management.

The sale was made through the divestment of shares in the MREC Kiinteistö Oy Espoon Keilalahden ABCD-talot holding company, representing an approximately 4.65% net initial yield.

The property, at Keilalahdentie 2-4, served as the former headquarters of Nokia Corp. and formed a portion of the Exilion entity purchased from Nokia in 2012.

The office buildings and the parking house offer roughly 31,000 square meters of lettable area and 1,250 parking spaces, respectively.

Catella Property Oy and Aleksandra Attorneys Ltd. advised Exilion on the deal.