SEB Asset Management acquires Helsinki office building for special fund (DE/FI)
Monday 19 September 2011
SEB Asset Management has acquired the Säterinkatu 6 office building in the Helsinki Metropolitan Area, which has 6,700 m² of rental space.
Säterinkatu 6 is located in the Leppävaara submarket in Espoo, which is approximately 10 km northwest of Helsinki’s central business district, and is let to the engineering and consulting firm Ramboll Finland Oy until 2018. It was sold by the Finnish insurance group OP Life Assurance.
The office building, which is worth around €16 million, will be added to the portfolio of the SEB Europe REI special fund, which includes other fully let properties in France, the United Kingdom, Austria and Poland.
One property has already been sold in Bristol (UK) at an attractive price after a holding period of just under two years. In August 2011, an interim distribution was made due to the fund’s extremely successful performance, which was considerably above the 5% target return.
With roughly 590,000 inhabitants, the Finnish capital Helsinki is the biggest city in the country. Together with Espoo, Vantaa and Kauniainen, it makes up Helsinki Metropolitan Area, a conurbation with a population of around 1,000,000. The region is Finland’s political, economic, intellectual, scientific and cultural center.