Cromwell European Real Estate Investment Trust (“CEREIT”), a real estate investor and manager listed on the main board of the Singapore Exchange, has acquired 11 freehold office properties in Finland for €113.1 million according to CEREIT’s website on Thursday, 3 January 2019.
The 11 Finnish office assets mostly located in the Helsinki Metropolitan Area (“HMA”) providing all assets in the portfolio excellent transport links, with the HMA assets located within easy reach of Ring Road III, the most important road system in the HMA, local train stations or the Helsinki airport, which handles approximately 83% of the domestic and almost all of the international air traffic.
Tomas Beck, Head of Nordics at Cromwell Property Group in Europe, commented: ”We are currently operating in a buoyant office market in Finland, supported by strong domestic demand, job growth and rising consumer confidence. These conditions have put upward pressure on rents in high quality, well-located buildings that offer efficiency and connectivity.”
