- March 1, 2020: Vol. 12, Number 3

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AIP concludes largest ever Finnish single-asset office acquisition

by Marek Handzel

AIP Asset Management has acquired the headquarter office campus (pictured) of the largest financial institution in Finland, OP Financial Group, for €480 million (US$530 million), on behalf of a South Korean–Finnish consortium.

The purchase, which the Seoul-based manager concluded in close cooperation with Helsinki-based investment manager Avant Asset Management, represents the largest ever single-asset office acquisition in the Finnish real estate market, and the first acquisition of an office property in Finland by Korean investors.

The office campus — which has been bought on behalf of NH Investment & Securities, Shinhan Investment Corp, and Varma Mutual Pension Insurance Co — is located in the Vallila submarket, which is the largest financial district in Finland and part of Helsinki’s axis-of-growth, located between the fast-developing districts of Pasila and Kalasatama. It was completed in 2017 and contains seven modern, fully interconnected buildings

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