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News Release

Helsinki

JLL advises on the largest office single asset sale in Finland thus far in 2016


The JLL Capital Markets team in Helsinki has successfully advised Commerz Real on the sale of the Life Science Center Keilaniemi office property in Espoo, Finland. The 32,000 sq m office property was sold to Nordic private equity investor Niam. 

The Life Science Center Keilaniemi property comprises five interconnected office buildings completed between 2004 and 2008, and benefits from a strategic location in the Keilaniemi office area, close to the Keilaniemi metro station and the Aalto University campus. The property has an occupancy rate of 93%, with notable tenants such as state-owned IT-service provider CSC and pharmaceutical companies Bayer Nordic and Ratiopharm headquartered in the property.

Originally acquired in 2009, the Life Science Center Keilaniemi property was Commerz Real's last remaining property in Finland following the sale of the Lintulahti office building earlier this year.

The purchase price is confidential, however JLL can report that the transaction marks Finland's largest office single asset transaction thus far in 2016.