Castellum is acquiring a Finnish property portfolio through aquering the real estate company Kielo with 22 high-quality office properties in Finland's most attractive growth centres and fastest growing university towns.
“The acquisition is a fantastic addition to our existing Nordic platform and further consolidates our position in one of Europe’s strongest markets,” says Henrik Saxborn, CEO of Castellum AB.
The portfolio consists of 22 modern and sustainable properties, most of which were built after 2000, featuring flexible office space and a wide range of services and facilities, such as conference venues and coworking areas.
The portfolio has a stable, attractive and diversified tenant composition. Of the current 314 individual tenants, the public sector, blue-chip and/or large companies account for 63% of gross rental income. The largest tenants are public institutions and well-known blue-chip companies such as AFRY, Nokia and Siemens.
The largest region is the Helsinki Metropolitan Area (HMA), which accounts for more than 40% of rental income, while the remainder is distributed between the university towns of Tampere, Turku, Jyväskylä and Lahti.
The transaction in brief: Castellum is acquiring Kielo from Blackstone Tactical Opportunities and Brunswick Real Estate
Acquisition price: SEK 6.5 billion
Closing date: 7 July 2021
Rental value: approximately SEK 0.6 billion/year
Average contract duration: 3.0 years
Major tenants: AFRY, Nokia and Siemens
Lettable area: 237,000 sq.m.
Economical occupancy rate: 86%
For more information, please contact:
Henrik Saxborn, CEO Castellum AB, +46 706-94 74 50
Ulrika Danielsson, CFO Castellum AB, +46 706-47 12 61
This information is information that Castellum AB is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above at 02:30 CET on 3 July 2021.
Castellum is one of the Nordic region’s largest listed real estate companies with a property value of approximately SEK 96 billion. We are active in 14 Swedish growth regions as well as in Copenhagen and Helsinki. Every day, 250,000 people go to work in our premises. We develop flexible workplaces and logistics solutions with a lettable area of 3.8 million sq.m. One of our sustainability goals is to be entirely climate neutral by 2030. Castellum is the only Nordic real estate company selected by the Dow Jones Sustainability Index (DJSI). The Castellum share is listed on the Nasdaq Stockholm Large Cap.