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
