Augsburg/Helsinki, 24 January 2018. PATRIZIA Immobilien AG announces that it has sold a data centre property, Sinimäentie 12, in Espoo, Finland, located in the Helsinki Metropolitan Area. The property was sold on behalf of PATRIZIA’s Büro-Invest Europa I fund.
PATRIZIA bought the Sinimäentie 12 five-storey property in 2006 when it was leased as an office with a small data centre. In 2015 the building was let to a global data centre provider on a long-term, 20-year lease. The tenant has since carried out significant alterations in order to expand the data centre capacity.
Rikke Lykke, PATRIZIA’s Managing Director for the Nordics, says PATRIZIA has actively managed the asset, and increased the value of the property through its successful conversion to a data centre. “It was the right time to sell the property. Finland is an attractive location for data centres, which is also an increasingly interesting investment class,” she explains.
PATRIZIA currently manages around EUR 1.2 billion of real estate assets across the Nordic region.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real estate market across Europe for more than 30 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global provider of real estate investments in Europe, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. On completing the takeovers of recently acquired real estate investment management companies PATRIZIA will manage almost EUR 40 billion of real estate assets, primarily as a portfolio manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.
Group Head of Corporate Communications
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