Niam acquires office building in Turku

Niam acquires office building in Turku

Nordic real asset manager Niam has acuired Sampotalo, a landmark office building in the Turku City Center, in Finland.

The seller is Schroder Real Estate KVG. 

The Sampotalo building, hosts the central administration of City of Turku, located along the pedestrian street Yliopistonkatu, and spans over a lettable area of approximately 10,400 square meters.

All office spaces within the premises have been leased to the public sector anchor tenant, City of Turku, under a long lease agreement. Additionally, Sampotalo has some retail space, conveniently positioned on the ground level.

Antti Muilu, Country Manager at Niam states: “It is a rare opportunity to acquire a landmark office property in the central district of Turku. We are very pleased with the high quality of Sampotalo, and the acquisition aligns well with our recent investment in the Lyyra office building in Helsinki.”

Sampotalo, an iconic functionalist building, was built in 1937-1938 and was designed by architect Erik Bryggman to serve as the headquarter of the insurance company Sampo. Over the years the building has been extended and renovated several times and the latest large refurbishment has just been completed. Through the refurbishment Sampotalo received Breeam excellent rating and is now a modern, sustainable office space, tailored to the needs of the office occupier, City of Turku.

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