Nordika has acquired the former head office of Nokia Networks containing 36,000 sqm high quality office space in Helsinki, Finland.
The property became 95% vacant in August this year and the sales process has been handled by the former owner’s senior lender who had repossessed the property.
Gabriel Cronstedt, COO of Nordika comments:
“We are excited to have acquired a high quality asset in a strong micro location in Helsinki, Finland. Nordika will implement a leasing strategy we deployed in a similar office asset with great success. The plan is to transform the former head quarter building into a long term sustainable multi-let asset over a 3-5 year period. The asset holds high specs and very good standard, as it was not more than 14 years ago since it was erected. Nordika is now taking on the work where the former owner lacked local presence and the ability to implement a long term strategy. Although the Finnish leasing market is weaker than other capital cities in the Nordics, we are confident about leasing out the vacant space given our ability to compete with attractive rents combined with the high quality of the space and solid location.”
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