Corpus Sireo Projektentwicklung Beteiligungs GmbH acquired an office building in Helsinki's central business district for €28 million on behalf of an institutional real estate fund launched by Swiss Life Asset Managers.
The fund is set to receive as much as €400 million as part of its launch, with further capital increases planned. It targets assets in core and core-plus locations in major European cities and regional centers.
The property, at Kaisaniemenkatu 13, stands eight floors high and has retail outlets on its ground floor. It was purchased from an unidentified institutional investor.
Nordic Investment Bank anchors the property, which encompasses 4,842 square meters of leasable area, of which 3,798 square meters is office space, while 573 square meters is used for retail and other purposes.
Roschier Attorneys at Law advised on the purchase. Newsec will handle local property management, while Corpus will serve as asset manager.