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News Release

Helsinki

JLL advises IVG Polar Oy on the sale of a major office portfolio transaction in the Helsinki Metropolitan Area


JLL has successfully advised IVG Polar Oy on the sale of a major office portfolio ("Henry portfolio") of 24 office properties and three plots in the Helsinki Metropolitan Area. The portfolio was acquired by Goldman Sachs and Cromwell Property Group. The purchase price was EUR 108.5 million. By this transaction IVG Polar Oy exits the majority of their current holdings in Finland.

The total gross lettable area of the portfolio amounts to approximately 132,000 sq m and all the properties are located in the Helsinki Metropolitan Area. In total, these properties are currently let to more than 360 tenants.

Christian Hohenthal, Head of Capital Markets JLL Finland, said: "We are extremely pleased to facilitate the successful exit of IVG Polar's portfolio in the Helsinki Metropolitan Area to Goldman Sachs and Cromwell. There is a very good momentum in the Finnish investment market, particularly for large scale platform transactions, attracting strong investor interest as underlined by this significant portfolio deal."

JLL acted as IVG Polar's sole commercial advisor in the transaction. Hannes Snellmann Attorneys Ltd provided legal advice.