Ilmarinen Mutual Pension Insurance Company has sold properties in Järvenpää and Valkeakoski to Special Investment Fund eQ Finnish Real Estate (AIF). Newsec served as commercial advisor to the seller.
One of the properties sold is a four-storey office building in downtown Järvenpää, built in 2000 and provides some 3,300 square metres of leasable space. It is currently occupied by local government offices and the Uusimaa Tax Authority.
The other property is a two-storey commercial building in the centre of Valkeakoski that was completed in 2012. The building provides some 8,700 square metres of leasable space, and its anchor tenants are K-Citymarket Valkeakoski and Valkeakoski Town Library as of the start of 2019.
Newsec served as commercial advisor to Ilmarinen in the sale.
For further details please contact:
Senior Advisor Commercial Brokerage, MRICS, Partner
Tel. +358 50 324 0404
Tel. +358 40 843 3272
eQ Asset Management
Tel. +358 50 360 6553
The mission of Ilmarinen is to ensure that our customers receive the pension that they have earned from their work. We promote improvements in the world of work to help our customers succeed. We are responsible for the pension security of nearly 1.1 million people, administering more than EUR 46 billion in investment assets to cover these pension liabilities. Check our website at www.ilmarinen.fi/en for further details.
eQ Finnish Real Estate
Special Investment Fund eQ Finnish Real Estate (AIF) is a real estate fund administered by eQ Asset Management that invests in Finnish commercial, office, hotel and manufacturing properties. As of 30 June 2018 the fund owns a total of 33 properties with a combined value of EUR 655 million. The fund opens four times annually for new subscriptions and twice a year for redemptions. Total returns since the fund was established amount to 10.0 % after expenses. See our website at www.eQ.fi/en for further details.