Bread Factory, Helsinki, Finland

Finland 60x30

Investment Date
Q4 2016

Exit Date
Q4 2020
(Projected)

Asset type
Office

Revcap strategy
Active Asset Management

Revcap Fund
KHCP IV

Investment Type
Joint Venture Equity

Background and Opportunity

  • Commitment of €7m Revcap equity to the purchase of an attractive 13,300m² loft style office property in the northern part of Helsinki’s CBD
  • The property had been owned and managed by a public entity and was 10% vacant upon purchase with visibility on another 20% becoming vacant within 6 months
  • The JV’s business plan is to invest capital to refurbish the property in order to attain market rents and to re-let the property whilst enjoying a substantial income stream

Transaction Progress

  • An encouraging start has been made to the lease up effort with two new leases already signed for 1/3 of the vacancy

Current Status

  • The property is currently tracking in line with business plan

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