Deka Immobilien sells health centre in Finland

Deka Immobilien has sold an health centre in Helsinki for around EUR 100 million. The property is part of the real estate assets of the open-ended real estate fund WestInvest ImmoValue, which targets exclusively institutional investors. Finnish investor VVT, which specialises in commercial real estate in Finland's largest cities, is acquiring the property for its VVT Property Fund ll KY fund.

The Kalasatama Health Centre comprises 19,800 sqm of leasable space and 35 parking spaces. It is located around three kilometres east of the Central Business District, directly on the coast in the Finnish capital. The property was completed in 2017 and is fully leased on a long-term basis with the City of Helsinki as the main tenant.

The sale sees the fund management of WestInvest ImmoValue taking advantage of a favourable sales opportunity while at the same time divesting itself of a property that no longer aligns with its strategy. Investors have generated a positive performance contribution with the property over the holding period of around ten years.

Photo: hel.fi