Varma has sold a 124,000 square meter portfolio of 15 offices located mainly in the wider Helsinki area for €130 million to European Property Investors Special Opportunities 4 (EPISO 4), an opportunistic fund advised by pan-European real estate investment manager Tristan Capital Partners. Varma will maintain a 19% interest in the portfolio following the acquisition.
- Varma has been restructuring its direct real estate holdings during the past couple of years and often we have also retained a minority interest in the portfolios alongside with new active owners like here, says Ilkka Tomperi, Varma's Investment Director for real estate.
Varma is currently refurbishing and developing office space in Lönnrotinkatu 18 and in Kalasatama as well as has several residential development projects in Finland. As our strategy has been to increase the share of international real estate in our portfolio we have been able to take one step forward in the process through this transaction.
Ilkka Tomperi, Investment Director, Real Estates, Varma, +358 50 379 1903
Hanna Leskelä Communications Manager, Varma, +358 40 703 5164
Varma Mutual Pension Insurance Company is the most solvent earnings-related pension company and largest private investor in Finland. The company is responsible for the statutory earnings-related pension cover of some 860,000 people in the private sector. Premiums written totalled EUR 4.6 billion in 2015 and pension payments stood at EUR 5.2 billion. Varma's investment portfolio amounted to EUR 42.4 billion at the end of September 2016.