Nyfosa has acquired a portfolio consisting of nine office properties and one project property in the Finnish university town of Jyväskylä at a total value of MEUR 208, corresponding to approximately MDSEK 2.1. The acquisition creates a solid platform for continued growth. Seller is Castellum.
The portfolio of modern and sustainable office properties is centrally located in the expansive regional city of Jyväskylä, Finland’s fifth largest city with two of the country’s larger universities. The properties have a total area of 67 thousand square meters with an annual rental income of approximately MEUR 18, corresponding to approximately MSEK 183. The portfolio has a great variety of tenants, the largest of which are TietoEvry, Jyväskylä University and Airbus Defense & Space. The acquisition also includes an attractively located project property with existing building rights of 8 thousand square meters office space. The economic occupancy rate is 95 percent. The average remaining contract period amounts to 1.4 years. Approximately 60 percent of current rental income refers to ongoing rental agreements that run on a 12 months basis where the tenants have stayed in their premises for an average of 8.5 years.
The acquisition is financed through equity and raising of loans. Brunswick Real Estate’s ownership in the acquisition is 1.9 percent. Closing will take place on July 12, 2021.
“We are pleased to be able to acquire modern and qualitative properties with attractive locations in one of Finland’s largest regional cities. With a growing population, universities, and an expansive business community, Jyväskylä is an example of cities we are looking for in our establishment in the Finnish market. A good start to continue building on”, comments Stina Lindh Hök, CEO of Nyfosa.