Genesta sells prime office property in Helsinki CBD

Genesta sells the prime office property “Fab 9” on behalf of its fund, GNRE Fund II, to KanAm Grund Group. The 7,600 square meter building in central Helsinki was acquired in July 2016 and has since been upgraded to modern standard and renovated to fit the tenants´ needs. The property was awarded with the certification BREEAM In-Use level Excellent in 2021.

- We are pleased with how we have improved the building during our hold. Today it is almost fully leased and modernized prime office property with strong ESG performance. Our proactive hands-on management will deliver a solid return for our investors, comments Genesta´s CEO David Neil.

"Fab 9” is located on the Kasarmitori Square in Kaartinkaupunki. The area is a preferred office location for several law firms and is home to multiple larger corporate headquarters. In 2020 the property was anchored by a top tier law firm occupying approximately 70% of the building.

- We continue to look for attractive opportunities in Helsinki and across the Nordics, says David Neil.

CBRE and Aleksandra Attorneys advised Genesta in the transaction.

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.