Deka Immobilien has sold a health center in Helsinki for approximately €100 million ($117 million). The property is part of the real estate assets of the open-ended real estate fund WestInvest ImmoValue, which targets exclusively institutional investors. Finnish investor VVT, which specializes in commercial real estate in Finland's largest cities, is acquiring the property for its VVT Property Fund ll KY fund.
The Kalasatama Health Centre comprises 19,800 square meters (213,125 square feet) of leasable space and 35 parking spaces. It is located about three kilometers (1.8 miles) east of the Central Business District on the coast in the Finnish capital. The property was completed in 2017 and is fully leased on a long-term basis with the City of Helsinki as the main tenant.
The sale sees the fund management of WestInvest ImmoValue taking advantage of a favorable sales opportunity while divesting itself of a property that no longer aligns with its strategy. Investors
