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News Release

Helsinki

Balder acquires prime hotel property in Helsinki


Fastighets AB Balder has entered into a binding agreement with Tradeka-sijoitus Oy to acquire the Holiday Inn Helsinki - West Ruoholahti hotel property. The transaction is expected to close in early July 2017.

The hotel property was completed in 2005 and offers 256 rooms. The hotel is let on a long term lease to Restel Hotellit, one of Finland's leading hotel operators. The property benefits from a highly visible location in one of the prime office hubs in Helsinki city center, offering excellent connectivity by public transport.

The hotel market in Helsinki has seen strong growth over the past years, with 2016 recording an all-time-high of 3.6 million overnight stays according to VisitHelsinki.

The purchase price is 39 million euros. JLL advised the seller Tradeka-sijoitus in the transaction.