JLL advises Sponda on the sale of a major Helsinki commercial property portfolio to Antilooppi
Property investment company Sponda Plc, advised by JLL, has signed an agreement to sell nine commercial properties in Ruoholahti, Helsinki, to property investment company Antilooppi. The total leasable area of the properties exceeds 100,000 square metres, with parking facilities of approximately 1,650 spaces.
Since the early 2000s, Sponda has contributed to the development of Ruoholahti into one of the most significant business districts in the Helsinki Metropolitan Area. Sustainability has been at the forefront of Sponda’s development activities, with several investments made to improve energy efficiency during this period.
Christian Hohenthal, Sponda’s President and CEO, said: “The strong investment market supports the divestment of these assets and we are delighted to see Antilooppi continue our work going forward. Sponda has several development projects either under way or in the pipeline: this sale will free up resources necessary for these developments, allowing for the continuation of Sponda’s strategy to actively develop its properties and create outstanding working environments for its customers.”
Mathias Vuorelma, Co-Head of Capital Markets, JLL Finland, commented: “Sponda is one of our most valued and long-standing clients, and we are extremely pleased to have been able to help facilitate this landmark transaction. The Helsinki market has recorded strong rental growth over the past years, which coupled with strong population growth and continued urbanisation creates a solid foundation for sustained and robust investor demand for commercial properties going forwards. This transaction emphasizes the strong demand and liquidity for also larger portfolios.”
JLL acted as Sponda’s exclusive commercial advisor in the transaction. Krogerus acted as the seller’s legal advisor in the transaction.
The completion of the sale requires approval by the Finnish Competition and Consumer Authority, which is expected in spring 2020.
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