Strong exit year for Areim in Finland21 December 2020
Areim maintains momentum and shows a strong exit year with several divestments in Finland. The most recent disposal is a residential building in Tornio which followed the Martintalo office exit in Vantaa. This year’s divestments follow Areim’s strategy to focus on value-add office investments and residential exposure in key growth cities of Finland.
Areim made its first disposal from Fund IV on 30 October 2020 with the sale of a 26-unit residential building in Tornio to JHS-Kiinteistöt Oy. Areim acquired the asset in Q1 2020 as part of a 900-unit residential portfolio from Ilmarinen and the disposal follows Areim’s strategy to focus residential exposure to key growth cities in Finland going forward.
The deal followed Areim’s recent disposal of the Martintalo office building in Vantaa with 14,000 square meters of lettable area to Kielo on 29 October 2020. Areim managed to lease up vacancies and renegotiate existing leases in the building, producing a near-fully-let building with a strong tenant roster in solely two years of ownership.
“It feels fantastic to close the year that has passed with strong divestments that are in line with our strategy. We maintain our momentum and enter 2021 with a lot of energy and will to continue to do good business which benefits all our partners”, says Markus Laine, Head of Areim Finland.
Earlier this year Areim also disposed the Sinihelmi and Suometsänkaari office assets in Espoo and Vantaa respectively, in a separate transaction to Elite Alfred Berg.
For more information:
Markus Laine, Head of Finland
Mob: +358 (0)50 466 2838
Therese Rattik, CEO
Mob: +46 (0)70 454 65 24