Global private equity firm Carlyle Group has purchased 30 properties from Finish insurance company Tapiola group for E216m (£165m).
The properties are located across Finland’s large and mid-sized cities with a concentration in the wider Helsinki area. They total 1.5m sq ft and the main tenant is the vendor Tapiola.
Carlyle Group said it would refurbish the properties and as a result increase the occupancy level.
Thomas Lindstrom, managing director of Carlyle said: ‘These Finnish properties are just in line with our investment strategy of identifying attractive properties with potential for improvements.’
‘Our ambition is to further increase occupancy and take advantage of the good prospects for redevelopment.
'The relatively high yields compared to other mature European markets also make Finland an attractive country for investors.’