Cavendo advise Schroder Real Estate in acquiring a core office Portfolio in Helsinki

October 2017

Cavendo has acted as buy side advisor to Schroder Real Estate in acquiring a core office portfolio of nine assets in Helsinki from private equity real estate firm Niam. The purchase price was approximately EUR 150 million.

Schroders acquired the properties on behalf of Schroder Nordic Real Estate Fund, a German Special-Alternative Investment Fund. The assets are well located with a majority of the value in central Helsinki. The portfolio is let to a variety of occupiers from different sectors including Mandatum, Sito, European Union and Respecta, with lease covenants providing a long term cash flow with upside potential.

The assets have a total lettable area of 52,750 sqm and are split into eight offices and one mixed space.

Eva Granlund, Head of Nordic Real Estate Investment at Schroder Real Estate, adds: “The Finnish economy is improving and we are positive about the long term outlook for this market. Helsinki is an attractive investment market with remaining upside potential.”
Joakim Karlsson, Cavendo, adds: ”It has been a pleasure to work together with Schroders in this deal. Investors’ interest in Helsinki is growing rapidly, and we are delighted for having been given the confidence to participate in another deal in Helsinki, this time by Schroders.”

Cavendo has participated in office transactions in Helsinki for a value of about EUR 900 million since 2015.