The Carlyle Group Makes €216 Million Real Estate Investment in Finland

Stockholm, Sweden - The Carlyle Group, the global private equity firm, today announces a major investment in the Finnish property market with the acquisition of 30 assets located across Finland for a transaction value of €216 million. Carlyle Europe Real Estate has acquired a portfolio of mainly office properties in large and mid-sized cities in Finland, with a concentration in the Helsinki Metropolitan Area.

The portfolio has been acquired from several companies within the Tapiola group, a major Finnish insurance company. The total lettable area of this well diversified portfolio is 140,500 m². The single largest tenant is the seller, Tapiola.

The Carlyle Group intends to make a significant investment in the buildings to further improve occupancy through refurbishment and modernization.

Thomas Lindstrom, Managing Director, The Carlyle Group comments: “We jumped at this opportunity to acquire a very attractive commercial real estate portfolio. These Finnish properties are just in line with our investment strategy of identifying attractive properties with potential for improvements. Our ambition is to further increase occupancy and take advantage of the good prospects for redevelopment. The relatively high yields compared to other mature European markets also make Finland an attractive country for investors.

Due diligence has been conducted with law firm Veikko Palotie, financial and tax advisor PWC and commercial advisor Jones Lang LaSalle.

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