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Nordea Life Assurance sold Helsinki CBD asset to Cordea Savills

Nordea Life Assurance Finland Ltd has sold a core Helsinki CBD property to a Cordea Savills fund for around €60 million. The property comprising office and retail premises is located at the address Aleksanterinkatu 11, the premier business street of the Helsinki CBD.

The property has total lettable area of 10,519 sqm of which approximately 70 per cent is office. The office premises are used as the Finnish headquarters of Svenska Handelsbanken while the remainder is retail with well known tenants such as H&M and Dressmann.

Newsec advised the vendor in the transaction.

Cordea Savills is an international property investment manager with offices in London, Milan, Munich, Düsseldorf, Stuttgart, Hamburg, Stockholm, Luxembourg, Paris, Singapore and Sydney. As at 31 March 2012, Cordea Savills and other Savills Group companies managed a total of EUR 7,647 million through its European platform.

For more information, please contact

Nordea Life Assurance Finland Ltd, Head of Real Estate Kari Louhenkilpi

Tel: +358 50 338 0753

Cordea Savills, Head Of Investment, Nordic region, Håkan Blixt

Tel: +46 702 726 033

Newsec Advice Oy, Head of Transactions, Mikko Tenhola

Tel: +358 40 500 1310

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Annika Wahlund Communication Manager