Castellum has acquired Kielo, a Finnish real estate company, for SEK 6.5 billion (approximately €640 million).
Kielo owns 22 high-quality office properties in Finland’s most attractive growth centers and fastest growing university locations, Castellum said.
“The acquisition is a fantastic addition to our existing Nordic platform and further strengthens our position in one of Europe’s strongest markets,” said Henrik Saxborn, CEO of Castellum AB.
Castellum said the portfolio comprises approximately 237,000 sqm lettable area and, has a stable, attractive and diversified tenant composition.
”Of today’s a total of 314 individual tenants, the public sector, blue-chip and / or large companies account for 63% of gross rental income. The largest tenants are public institutions and well-known blue-chip companies such as AFRY, Nokia and Siemens,” said the company in a statement. ”The largest region is the Helsinki Metropolitan Area (HMA), which contributes more than 40% of rental income, while the rest is distributed between the university cities of Tampere, Turku, Jyväskylä and Lahti.”
Kielo was launched in October 2017 by Blackstone Tactical Opportunities and Brunswick Real Estate.