DEGI inaugurates investment activities in Finland with an office portfolio

The property fund company DEGI Deutsche Gesellschaft für Immobilienfonds mbH is further expanding its investment horizons by acquiring for €159.7 mln. a portfolio in Helsinki comprising five office buildings and total renting space of 59,482 m². The seller are the Finnish insurance companies Veritas.

The property in the Pasila submarket.
“By purchasing a portfolio, we obtain fast and efficient access to new property markets and can thus simultaneously diversify several different funds”, says Malcolm R. Morgan, Managing Director at DEGI. In August, the company made its debut on the Romanian commercial property market by purchasing an office portfolio. This means that DEGI has meanwhile invested in 13 different countries with its funds for institutional and private customers.

Diversification over three different locations

Three interlinked buildings in the Haaga submarket, fully let to the Finnish IT corporation TietoEnator, will be owned by the GRUNDWERT-FONDS. Two further properties are earmarked for DEGI GLOBAL BUSINESS, which focuses on the needs of institutional investors and affluent private customers. One of the office properties, with a total renting space of 15,524 m², is located in the Pasila submarket in the expanded inner-city district, and has been almost completely let to TEKES, the Finnish Funding Agency for Technology and Innovation, plus five smaller tenants. The last object is located in Helsinki’s traditional central business district and has been let exclusively to the Finnish Ministry of the Environment, with a total lettable space of 4,278 m². The properties will move into the fund’s portfolio in the next few months.

source: DEGI