Genesta Sells Office Property in Helsinki
Genesta sells the historic office property Bulevardi 21 in Kamppi on behalf of its fund, GNRE Fund II, to NREP. The approximately 10,100 square meter building was acquired in December 2015 and the property has since undergone extensive refurbishment.
The office spaces have been renovated to fit the tenants´ needs and the street level was converted into retail space. The street level facade renovation has given the property a new and modern look. The nearly fully leased property was awarded with BREEAM In-Use level Excellent certification in 2021.
We are satisfied with how we have improved the building during our hold, both for our tenants and our investors, but also for the environment. Bulevardi 21 is now a modern and loved office building with strong ESG performance.
- David Neil, CEO Genesta
Bulevardi 21 offers an excellent location in the very center of Helsinki, yet it occupies a private corner surrounded by parks and the sea. All of Helsinki’s services are just around the corner as are many attractive stores and restaurants.
Nordanö and Avance advised Genesta in the transaction.
I´m proud of the team. In a short time, we have made many good investments, but also excellent exits like this one.
- David Neil, CEO Genesta
GNRE Fund II
GNRE Fund II’s strategy is to provide institutional investors with exposure 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.