Patrizia sells Itamerenkatu 5 office in Helsinki for €41m

Patrizia sells Itamerenkatu 5 office in Helsinki for €41m

Published at: 2019-02-12 09:21 | Author: CIJEurope.com
Special Investment Fund eQ Finnish Real Estate purchased the Itamerenkatu 5 office building in Helsinki’s Ruoholahti district from Patrizia Immobilien AG for €41m. The LEED Gold property offers more than 8,800 sqm of leasable space. Patrizia acquired the asset in 2016 and made several upgrades to the building over the last two years, including a full refurbishment of the lobby and restaurant.

“We have transformed this property into a desirable office location in Helsinki and believe that now is the right time to take advantage of market conditions and to crystalize the value we have created,” said Essi Sten, country manager and head of asset management for Finland at Patrizia. “We still hold over 55,000 sqm of leasable space in Finland, which largely comprises offices within the Helsinki Metropolitan Area, and are actively looking to acquire more assets across multiple sectors, where we see an opportunity to drive income and values.”

Similar Stories:

IWG continues expansion on the Polish office market
IWG concluded contracts for over 18,000 sqm of serviced offices in nine locations across P  »
NCR's to start construction of New Belgrade campus in May
NCR is set to start the construction of its headquarters in Belgrade in May. The company p  »
Skanska lays cornerstone for Centrum Południe
Skanska has laid the cornerstone for its Centrum Południe office investment located at Po  »
Penta sells BCT 2 in Košice to ECE
In Košice, Penta Real Estate has sold its office building Business Centrum Tesla 2 to the  »
This is what’s behind ongoing the boom in the development of new offices. Even now, deve   »
Office developers in Warsaw can’t keep up with demand lately. Take-up hit record levels   »
The developer Speedwell spent the fall finishing up projects and starting construction on   »
Together with a Hong Kong-based private investment fund, Wigan Associates has acquired the   »