Genesta sells the office property Antinkatu 1 on behalf of Genesta Nordic Real Estate Fund II (GNRE Fund II) to Schroder Nordic Real Estate Fund.
The 11,230 sqm property was acquired in December 2015 and has since been extensively refurbished. The NOI of the property increased by 40% and about 75% of the premises were re-let during Genesta’s ownership. Today the property is almost fully leased to amongst others, Fraktio, Wolt Enterprises, and Nordcloud. The property is located in Kamppi in central Helsinki.
Aleksandra Attorneys and JLL advised Genesta during the transaction.
- Antinkatu 1 was the first property (together with Bulevardi 21) we acquired on behalf of GNRE Fund II. The strong exit shows that the fund’s investment strategy and Genesta’s proactive hands-on asset management will deliver a strong return for our investors, comments Genesta’s CEO David Neil.
GNRE Fund II
GNRE Fund II’s strategy is to provide institutional investors with access to value add office property investments in Stockholm, Copenhagen, Helsinki and Oslo. The fund also invests in retail and logistics properties in large metropolitan areas in the Nordic region.