PATRIZIA Acquires Office Property in Central Helsinki

PATRIZIA Immobilien AG has purchased a modern office building in Helsinki with approx. 9,000 square metres space. The acquisition of the fully rented property in the capital of Finland, was made on behalf of a pan-European real estate fund.

“We are excited to purchase this centrally located multi-tenant office building in a good and established office location in Helsinki for our customer,” said Rykke Lykke, Managing Director at PATRIZIA Finland. The seller is the Finnish Fennia Life Insurance Company. The parties have agreed to keep the purchase price confidential.

The nine-storey building is located in Ruoholahti, an established office location. “Ruoholahti is the leading location for modern office properties. Many large Finnish financial companies have their offices here,” explains Essi Sten, Business Director at PATRIZIA Finland in Helsinki. In addition, there are very limited possibilities in Ruoholahti to create new office space. The building itself is very close to subway, tram, and bus stations, and is therefore very easy to reach the commercial centre of Helsiniki and the city of Espoo to the West by public transportation.

The modern office building was completed in 2001 and is in good condition. It has flexible floor areas and an underground parking garage with 20 parking spaces as well as another 10 in front of the building. Another 100 additional parking spaces in an adjacent building were purchased as well. The property is currently used by 21 tenants and is fully rented. The tenant structure is diversified with tenants from, for example, IT consulting, health and welfare, as well as management consulting segments.