Swedish investment manager Areim Fund III has acquired a Finnish office portfolio from Tristan’s European Property Investors Special Opportunities IV (EPISO 4) fund and Varma Mutual Pension Insurance Company, co-investor in the deal.
Financial details were not disclosed.
The portfolio consists of eight office properties amounting to 60,000 m2. The assets are mainly located in the Helsinki metropolitan area.
Jean-Philippe Blangy, managing director and head of asset management at Tristan Capital Partners, commented: ‘The Areim transaction marks the successful disposition of the entire portfolio, following a programme of active asset management.’
Tristan bought the portfolio together with Finnish based Avant Capital as part of a larger 12-asset portfolio in 2016. Three properties were sold in 2017 and an additional asset in March 2018.
‘Together with our partner Avant Capital Partners we secured lettings of 23,500 m2, improving the overall institutional quality of the properties to meet the dynamics of the strengthening Finnish office market,’ he added.