Genesta has sold its Juvanmalmi Logistics Centre in Espoo, Finland, on behalf of its GNRE Fund II.
GNRE Fund II provides institutional investors with value-add exposure to office property investments in Stockholm, Copenhagen, Helsinki and Oslo. The fund also invests in retail and logistics properties in large metropolitan areas in the Nordic region.
Genesta said it acquired the 60,900 square-meter (655,522-square-foot) logistic center in February 2018 and upgraded it with solar panels and LED lights. The property was awarded a BREEAM in-use Good certification this year.
“We are pleased with how we have managed to improve the property during our hold, and it shows that our proactive hands-on management will deliver a strong return for our investors,” noted David Neil, CEO of Genesta. “We continue to look for attractive opportunities in Helsinki and across the Nordics.”
Juvanmalmi Logistics Centre is located in the logistic belt alongside Ring Road
