JPMorgan Asset Management (UK)Company
JPMorgan announces acquisition of three buildings in Finland (FI/UK)
Monday 16 April 2007
JPMorgan Asset Management - Real Estate (Europe) has announced that a fund advised by it has acquired a portfolio of three office buildings from Neste Oil Pension Fund.
The buildings are located in Keilaniemi, Espoo, a prime Helsinki suburban office market, close to the global HQ of Nokia and other institutional occupiers. The portfolio includes Neste Oil’s current HQ, and Neste Oil and Fortum as primary tenants. The multi-let buildings comprise 20,850 m² of lettable space, and offer opportunities for regearing, releasing, and extension.

With this transaction, the fund has acquired nine properties since January 2007. These include three office buildings in Paris, a logistics property in Grantham (UK) with 31,029 m², a 21,168-m² office building in Dortmund, and an 11,154-m² office building in Rome.

Genesta Property Nordic Finland acted as advisor and asset manager to JPMorgan Real Estate. Catella Property Oy advised the seller.

Source: JP Morgan
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