Patrizia sells office buildings in Helsinki for €41m to Finnish investment fund

Europe office market

Real estate investment company PATRIZIA Immobilien AG has sold 5 office buildings, Itämerenkatu 5, in Ruoholahti office district ,Helsinki for EUR 41 million to Finnish investment fund, Special Investment Fund eQ Finnish Real Estate. 

Itämerenkatu 5 was constructed in 2001 and designed as a multi-let office buildig with over 8,800 sqm of lettable space.

Essi Sten, Country Manager and Head of Asset Management Finland at PATRIZIA, commented: “We have transformed this property into a desirable office location in Helsinki and believe that now is the right time to take advantage of market conditions and to crystallise the value we have created. We still hold over 55,000 sq m of leasable space in Finland, which largely comprises offices within the Helsinki Metropolitan Area, and are actively looking to acquire more assets across multiple sectors, where we see an opportunity to drive income and values.”

With on-the-ground office specialists in all major European real estate markets, PATRIZIA has a total pan-European office AUM of EUR 14.5 billion.

PATRIZIA was advised by Hannes Snellmann (legal), PwC (financial) and JLL (commercial).