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Commerz Real buys office project in Helsinki

Commerz Real AG said it bought the Tripla Workery office complex development under construction in Helsinki from YIT Construction.

The purchase price was not revealed on the deal that marks Commerz Real's re-entry into the Finnish market.

The asset was acquired for Commerz Real's open-ended real estate fund Hausinvest.

The three-tower project is slated to complete in 2020 with 49,500 square metres of leasable space and 500 parking spaces, and 64% of the space has been pre-leased. The office project will have two complexes: Workery West rising 17 stories and Workery East with two 15-story towers.

Main tenants at the office complex include co-working space provider Regus, telecommunications company Telia Finland and media group Otavamedia.

The scheme, in the Pasila district, is part of the Tripla urban development project. The overall project includes a 400-room hotel, two residential towers with 400 apartments and the Tripla Mall that is expected to be Finland's biggest shopping center, according to the release.