OP-Henkivakuutus sold an industrial property, Print, from Tampere to Erikoissijoitusrahasto LähiTapiola Sijoituskiinteistöt. Newsec acted as the vendor’s commercial advisor in the transaction, while Hannes Snellman acted as the vendor’s legal advisor. Castrén & Snellman acted as the purchaser’s legal advisor.
Print is a modern industrial property with some 14,700 sqm of leasable area. It is fully leased to a company belonging to Sanoma Group, Finland’s leading media corporation, with a WAULT of 10 years. Sanoma operates a printing house, one of its three, in the property.
Markku Mäkiaho, Managing director from OP Kiinteistösijoitus:
”The sale is related to OP-Henkivakuutus’ need to structure its portfolio more towards real estate debt investing. I believe Sanoma as a user will get a similar stable and long-span companion of LähiTapiola.”
Toni Perätalo, Portfolio Manager from LähiTapiola:
“When I familiarized myself with this investment opportunity, I knew it would be a great fit to the fund’s strategy. The property has a long lease agreement with a strong covenant, a great location, a modern LEED-certified building and decent risk-adjusted return, which is challenging to meet in the current market environment. Overall, I am very pleased about the deal.”
Marjo Kosonen, Associate Director & Partner from Newsec:
“Return requirement for prime logistic assets has decreased significantly in recent years. Hence, it was interesting to see, how these things reflect to prime industrial asset pricing – and they certainly reflect. On behalf of Newsec, I want to thank OP for the continued trust and congratulate both parties, OP and LähiTapiola, for a successful deal.”
For further information, please contact:
Marjo Kosonen, Associate Director & Partner Newsec
Phone: +358 40 749 8604
Image: Kuvatoimisto Kuvio Oy