JLL advises Special Investment Fund eQ Finnish Real Estate in the sale of a healthcare property to OP-Public Services Real Estate Fund

HELSINKI, December 9, 2020 – Special Investment Fund eQ Finnish Real Estate has sold a 6,200 sq m healthcare property “Aalloppi” to a fund controlled by OP Financial Group.

The freehold property was built in 2010 and is located in the rapidly growing city of Järvenpää right next to a railway station. A major share of the spaces is leased to public and healthcare sector tenants such as Aava and Pikku-Jätti with long lease agreements and is complemented by a recently refurbished S-market-grocery store.

Marjaana Berger, Investment Director of eQ Finnish Real Estate: Aalloppi is the first property acquired in the fund and we have developed the asset actively. Lease agreements with Aava and HOK-Elanto have just been renewed and Pikkujätti has started as a new tenant. The property has strong tenants with long lease agreements making this a good time to move forward and continue to focus on the Helsinki metropolitan area and Tampere in line with our strategy. We are pleased that this excellent property found a good new owner.

Anni Lakanen, Portfolio Manager of OP-Public Services Real Estate Fund: We are pleased to have the asset into our growing portfolio. The property fits well for our portfolio and it strengthens our allocation in Helsinki region as well as supports our investment strategy.  

Tero Uusitalo, Co-Head of Capital Markets, JLL Finland: We are pleased to have been able to successfully assist Special Investment Fund eQ Finnish Real Estate in the sale of this asset. In the current market conditions investors prefer strong tenants with long leases and with our extensive knowledge of the investors we were able to achieve a highly satisfactory result for our client.

JLL acted as Special Investment Fund eQ Finnish Real Estate’s sole commercial advisor in the transaction. Avance acted as the seller’s legal advisor in the transaction.