Sveafastigheter acquires office property in central Helsinki

Sveafastigheter and HGR Property Partners have through their mutually owned company, Sveafastigheter-HGR Investments, acquired a property with a total leasable area of 2,168 sqm. Total property value in the transaction is 1.6 million euros. Sveafastigheter-HGR Investments now owns two properties in Helsinki with a total leasable area of approximately 10,000 sqm.

Sveafastigheter-HGR Investments’ business idea is based on combining Sveafastigheter’s financial capacity with HGR Property Partners’ local presence and market knowledge, thus creating a strong, local, investor on the Finnish market. The new company, Sveafastigheter-HGR Investments, intends to be an active investor and developer on the Finnish market, mainly in the Helsinki area. By making several smaller acquisitions, the company aims to build an attractive real estate portfolio.

– Sveafastigheter’s investment strategy has always been focused on investments in secondary cities rather than in the CBD areas of capitals and primary cities. With HGR’s project and market knowledge, a partly new market opens for us, making investments in central Helsinki possible. HGR’s long project and letting experience, combined with our financial strength gives us great potential to develop and create value in central locations, says Erik Widmark, investment manager at Sveafastigheter.