Mon, 03/09/2018 - 10:42
CCP 5, a long-life core-plus fund advised by pan-European investment manager Tristan Capital Partners, has acquired two interconnected modern office buildings in Aviapolis, next to Helsinki Airport, for around EUR34 million.
The properties are the fund’s first Finnish assets.
Anne-Jan Jager, Director at Tristan Capital Partners, says: “The Finnish economy has been experiencing a late recovery cycle since 2016. Strong economic growth is being supported by inward international investment and domestic and foreign migration, particularly into the Helsinki region. We believe that these positive macro developments will continue to increase office tenant demand and rents for modern, high quality office space.”
Aviapolis is an established business area within the Vantaa district surrounding Helsinki Airport and located in the country’s prime logistic area. The offices, Plaza Pilke and Plaza Hehku are 95 per cent leased and will provide the Fund with a strong diversified tenant profile and income.
Risto Vuorenrinne, Investment Director at Trevian Asset Management, says: “The Aviapolis area has become an even more important and attractive office location in Finland, with residential, hotel, retail, office and logistics developments leading to increase in office demand. Both properties are almost fully leased, and their tenants represent both Finnish and international companies, for whom the proximity of transport connections is very important. We are excited to start this collaboration with Tristan as a highly respected partner.”
Tristan Capital and Trevian were advised by Borenius Attorneys.
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