Macquarie Asset Management has agreed to invest approximately €39 million to develop two Gold LEED-rated office buildings in Finland, on behalf of Macquarie GLL European Property Fund.
The development will be located in central Helsinki’s burgeoning Pasila district and adjoin the 19,700 m2 Ilmalanrinne office complex acquired in 2019 by the fund.
The development will add 11,500 m2 of floorspace to the complex, with construction expected to be completed in Q1 2023.
“I am delighted that we are moving forward with this exciting development project in Helsinki’s growing Pasila precinct. This follow-on investment at our Ilmalanrinne site is a demonstration of our engaged approach to asset management and focus on the wellbeing of tenants,” said Dana Gibson, Co-Head of Macquarie Asset Management’s Real Estate team in Europe.