Tristan Fund and Varma sell Finnish office portfolio to Nordic fund manager
European Property Investors Special Opportunities IV (EPISO 4), an opportunity Fund advised by pan-European real estate investment manager Tristan Capital Partners, and co-investor Varma Mutual Pension Insurance Company, have sold a portfolio of eight office assets to Areim Fund III.
The portfolio comprises 60,000 sq m of lettable space located mainly in the wider Helsinki Metropolitan Area. Tristan acquired the assets together with Finnish based Avant Capital as part of a larger 12-asset portfolio in 2016. Three assets were sold in 2017 and an additional property in March 2018.
Jean-Philippe Blangy, Managing Director, Head of Asset Management at Tristan Capital Partners, says: “The Areim transaction marks the successful disposition of the entire portfolio, following a programme of active asset management. Together with our partner Avant Capital Partners we secured lettings of 23,500 sq m, improving the overall institutional quality of the properties to meet the dynamics of the strengthening Finnish office market.”
Advising Tristan’s Fund on the sale were Krogerus and PwC.