Genesta expands Finnish portfolio with office property acquisition

Genesta expands Finnish portfolio with office property acquisition

Genesta has purchased an office property located in Helsinki’s dynamic Kamppi district from Schroder Real Estate KVG.

The office property has a total lettable area of approximately 9,300 square meters and is currently multi-let to 13 tenants.

This strategic acquisition marks the sixth investment made on behalf of Genesta’s value-add fund, GNRE Fund III, which was launched in 2019.

”This investment exemplifies the potential that lies ahead, even in a slower market. It underscores our commitment to create long-term value with a robust, high-quality, and sustainability focused value add portfolio across the Nordics,” said David Neil, Genesta’s CEO.

”We are excited to expand our Finnish portfolio with this acquisition. We see a huge potential for the asset. The Kamppi district, with its excellent connectivity and proximity to the CBD, is a very strong location and we are now eager to start our development work to take the property to the next level,” said Antti Laine, transaction project leader, Genesta.

Genesta plans to improve property’s ESG profile. Beside substantial upgrades of tenants´ premises and common areas, a well-defined action plan is in place to ensure superior energy efficiency and reduce the building´s carbon footprint. The building will undergo a comprehensive transformation to align fully with the EU taxonomy. This proactive plan positions the property at the forefront of adapting to new regulations and stakeholder expectations.

Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!