JLL advises Ilmarinen in the sale of Dixi office property located in Helsinki Metropolitan Area to PATRIZIA
 

Mutual Pension Insurance Company Ilmarinen has sold the Dixi office property located in Helsinki Metropolitan Area (HMA) to PATRIZIA.

Dixi offices is a high-quality multi-tenant office property completed in 2015-2017, with a total lettable area of approximately 14,300 sq m. The property is located in Vantaa-Tikkurila, one of the most significant urban hubs of the HMA, whose position is currently being further solidified by considerable new residential developments. The property offers outstanding accessibility and a convenient access to both the Helsinki city centre and the international airport, as it is directly connected to the third busiest railway station in Finland and to a large bus terminal. The property also holds a parking garage with 500 parking spaces.

Dixi offices boast an occupancy rate of 100% and a strong tenant roster spearheaded by government and municipality backed tenants for whom the location is strategic. The tenants also benefit from excellent on-site services, as the lower floors of the Dixi property (not part of the transaction) host the Dixi shopping centre, one of the most visited shopping centres in Finland.

 “The construction company YIT developed the Dixi-center into a significant real estate complex which offers versatile office and retail services in the central transport hub of Vantaa-Tikkurila. Ilmarinen was involved in the development of Dixi’s office properties as an investor from the start. Our investment covered three office buildings which were completed in the years 2014 to 2017. Hence, we found the time right to sell the Dixi offices and give the opportunity for the new owner to further develop the properties. Moreover, we are gratified that Dixi’s new owner is a highly considered and global real estate investor”, said Kenneth Nyman, Ilmarinen’s portfolio manager of commercial real estate investments.

Jörg Laue, PATRIZIA’s Head of Transactions Nordics, commented: “Finland, hereunder Helsinki, remains an attractive opportunity for institutional investments in the real estate sector. The Dixi offices are a highly attractive multi-let property strategically located in conjunction with the Dixi shopping centre and railway station in Vantaa-Tikkurila. We are happy to have acquired this modern and well managed asset, which can attract high-quality tenants and has a diversified tenant mix that secures a defensive and stable income profile.”

JLL acted as Ilmarinen’s sole commercial advisor in the transaction. Eversheds Sutherland acted as the seller’s legal advisor in the transaction.

Contact person:         Mathias Vuorelma