Deka Immobilien has sold a health centre in Helsinki for around 100 million euros. The property comes from the real estate assets of the open-ended real estate fund WestInvest ImmoValue, which is aimed exclusively at institutional investors. Finnish investor VVT, which specialises in commercial real estate in Finland's largest cities, is acquiring the property for its VVT Property Fund ll KY fund.
The Kalasatama Health Centre offers 19,800 sqm of lettable space and 35 parking spaces. It is located about three kilometers east of the Central Business District directly on the coast of the Finnish capital. Completed in 2017, the property is fully leased on a long-term basis, with the City of Helsinki as the main tenant.
With the sale, the fund management of WestInvest ImmoValue is taking advantage of a favourable sales opportunity and at the same time parting with a property that no longer conforms to its strategy. Over the holding period of around ten years, investors have made a positive contribution to performance with the property.
