13 September 2018
Union Investment sells logistics centre in Helsinki
Union Investment has sold an approximately 6,600 sq m logistics centre in Helsinki to VVT Property Fund I Ky. The property is located at Tikkurilantie 136 in Vantaa, a district close to the airport. It was fully let on a long-term lease to the Dayton Group at the time of sale. The parties agreed not to disclose details of the purchase price of the logistics centre, which was built in 2004. The sale proceeds are above the most recent expert valuation. The vendor was advised on the transaction by Catella Property Oy.
Since acquiring the property in 2008, Union Investment has held it in its institutional open-ended real estate fund UniInstitutional European Real Estate. The logistics centre offers excellent access to Helsinki’s international airport, which is less than five minutes’ drive away. It comprises approximately 5,000 sq m of warehouse space and some 1,600 sq m devoted to offices.