Special investment fund Trevian Finland Properties I made the following acquisitions into its portfolio in Q2, April – June 2018:
In a transaction on 11 April 2018, the fund acquired the PMK-building in Tampere city centre from Renor Oy. Originally built as the sales office for the Finnish cotton factories, the building has transformed into its current multi-purpose use for businesses, retail and offices. The PMK-building brings a perfect addition to the fund’s growth story, improving its prominence in the Tampere area. The property has a strong tenant base and future development potential. The most significant real estate development projects in Tampere are taking place at the adjacent plots.
In early May, the fund acquired the Varissuo shopping centre in Turku. The property was built in the 1980s, and it is located 6km east from Turku city centre. The Varissuo shopping and retail centre serves as a focal community meeting point in the area, with 9,100 m2 of leasable space.
In late June, Trevian Finland Properties I bought a commercial property in the immediate city centre of Mikkeli from Toivakka-yhtiöt, at Porrassalmenkatu 17. The acquired property is perfectly situated between the main market square and the railway station. There are several tenants, mutual insurance company LähiTapiola Savo-Karjala being the largest one. “PK17 nicely complements our real estate portfolio, and we continue to consider Mikkeli as an interesting city for investment, as long as the location of the property is excellent”, says Fund Manager Amalia Pöyry.
Before the end of Q2, the fund made its first acquisition in Jyväskylä, buying the business and office parts of mutual real estate company Torikulma in the city centre.
In addition, the fund has acquired a couple of small prime location office properties in the Helsinki CBD, as part of its liquidity management.
In the end of June, Trevian Finland Properties I raised EUR 50 million of new equity, taking the fund size clearly above EUR 100 million. The fund will continue making acquisitions in line with its investment strategy in Q3.