M&G Real Estate increases commitment to Nordics with €116m Helsinki office acquisition

M&G Real Estate has increased its Nordics office portfolio with the €116 million ($133 million) acquisition of Alvar Aallon katu 3 in Helsinki from Ilmarinen Mutual Pension Insurance Co.

The investment has been made on behalf of the M&G European Property Fund, and brings M&G’s exposure to the Nordics to €720 million ($825 million).

Helsinki is ranked 10th in M&G Real Estate’s Urban Connectivity Ranking, moving up 11 positions from the year before and confirming it as one of the top cities in Europe for both physical and digital infrastructure. The city has shown great improvement in key indicators such as Wi-Fi speed and green transport usage, supporting increased demand for offices, with the population forecast to grow by more than 10 percent by 2030.

Fully let to four tenants, Alvar Aallon katu 3 is a 11,845-square-meter (127,499-square-foot) office building in the Töölönlahti submarket next to Helsinki Central Station in the city’