PRESS RELEASE 31.1.2020
AVANT AND AIP ACQUIRE EUR 480M OFFICE IN HELSINKI WITH A SOUTH KOREAN-FINNISH CONSORTIUM
Avant Asset Management (Avant), together with AIP Asset Management (AIP), have lead a consortium which includes Varma Mutual Pension Insurance Company, NH Investment & Securities (NHIS) and Shinhan Investment Corp., to acquire OP Cooperative’s headquarters in Helsinki in a EUR 480 million sale and leaseback transaction. Avant and AIP will continue acting as co-investment managers for the deal. In connection with the transaction, OP Financial Group has signed a long-term lease contract for the property.
The property, located in Vallila, Helsinki, was fully completed in 2017 and it has a total leasable area of 74.150 square meters and it accommodates approximately 6.000 people. Its tenants are OP Cooperative and Senate Properties (Finnish Tax Administration).
Krogerus Attorneys and PWC advised the consortium on the acquisition.