Vontobel fund invests in Finland for the first time
The open-ended special AIF Vontobel Sustainable Real Estate Europe has acquired the Diana residential and commercial building in downtown Helsinki. The seller is the Svenska Folkskolans Vänner R.F. Foundation.
According to portfolio manager Quadoro Doric, the Gründerzeit building, which was built in 1898, is located on a 1,336 sqm plot. The rental space comprises 3,400 sqm and is spread over four upper floors and a partially converted attic. Stores are located on the first floor, while offices and apartments are located on the upper floors. In addition, the property has 22 underground parking spaces. The property is located in the middle of downtown Helsinki and is characterized by excellent transport links and good public infrastructure, says Quadoro Doric.
"The above-average conditions for real estate investments, the positive economic development paired with attractive fundamentals of the real estate market in Finland led us to make the purchase in Helsinki," says Michael Denk, the managing director of the fund's capital management company. (ah)
