VVT Property Fund I Ky has sold a modern logistics property to Evli Rental Yield Fund, a special investment fund managed by Evli Fund Management Company Ltd. The property is located close to the Helsinki airport in Aviapolis, a leading logistics area in Finland. The property offers approximately 6,600 square metres of lettable area and is currently fully let to Finnish Dayton Group Oy.
CBRE acted as the seller’s commercial advisor and Properta Attorneys acted as the legal advisor. PwC acted as the buyer´s legal, tax, and financial advisor.
Jan Olin, Chief Executive Officer, VVT Kiinteistösijoitus Oy, comments:
“The completed transaction is an indication that, even in exceptional times, we can successfully implement our strategy. During our relatively short ownership period, we had time to implement certain small development measures and, driven by the favorable market situation, the sale took place as planned.”
Heidi Launo, Portfolio Manager, Evli Fund Management Company Ltd, continues:
“For a while now, we have been looking for a suitable logistics / warehouse property to the fund to increase its diversification. Therefore, we are now delighted to add our first logistics property investment to the portfolio. In accordance with the fund's investment strategy, the property is leased on a long-term basis to a well-established company and in addition the property also has BREEAM certification.”
Henrik Calton, Head of Capital Markets, CBRE, adds:
“Interest towards the logistics sector continues to be strong and the challenge has been the low supply of quality properties. This transaction gained significant attention and intense competition from both international and domestic investors. “
Further information:
Heidi Launo, Portfolio Manager, Evli Fund Management Company Ltd, +358 40 708 9519, heidi.launo@evli.com
Jan Olin, CEO, VVT Kiinteistösijoitus Oy, +358 50 420 1170, jan.olin@vvtkiinteistosijoitus.fi
Henrik Calton, Head of Capital Markets, CBRE Finland Oy, +358 40 820 8235, henrik.calton@cbre.com
Evli is a bank specialized in investments that helps institutions, corporations and private persons increase their wealth sustainably. The product and service offering includes mutual funds, asset management and capital markets services, alternative investment products, equity research, incentive plan design and administration as well as Corporate Finance services. The company also offers banking services that support clients' investment operations. Evli has a total of EUR 15.0 billion in client assets under management (net 3/2021). Real estate funds are part of Evli's alternative fund offering, which already has a total of more than 1.2 billion in assets under management. Evli Rental Yield Fund is a non-UCITS fund managed by Evli Fund Management Company Ltd and it invests in commercial properties located in Finland. Evli Fund Management Company Ltd is 100% owned by Evli Bank. Evli Bank Plc has around 270 employees and its B shares are listed on Nasdaq Helsinki Ltd.
VVT Kiinteistösijoitus Oy is a real estate investment company established in 2012. We manage the VVT Property Fund I Ky, which invests in Finnish commercial real estate. The fund’s investors are Varma Mutual Pension Insurance Company, The State Pension Fund of Finland and Tradeka-Invest Ltd. At the end of 2020, the aggregate value of real estate assets managed by VVT amounted to over EUR 240 million.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Finland Oy is part of CBRE Group with circa 140 professionals working in offices in Helsinki, Turku and Jyväskylä. We offer a broad range of commercial real estate services for real estate investors and occupier clients such as sales, buy-side and debt advisory, hotel advisory, leasing, valuations, transactions, corporate real estate management consulting, tenant representation, workplace and building consultancy as well as property and shopping centre management. To learn more visit our website at cbre.fi
