AMWatch

UK-based investor plans to beef up Nordic RE exposure

Finnish cities are trading at a wider yield than other cities, notes Emer Finnan, partner at London-based private equity fund Kildare Partners.

Photo: https://www.technopolis.fi

Kildare Partners, a London-based private equity fund investing in European real estate assets, is looking for new investment targets in the Nordic region, Emer Finnan, partner at the company tells AMWatch.

The company's latest transaction in the Nordic region is Technopolis office complex in Finland, which Kildare Partners acquired for EUR 730m late last year.

The Helsinki-listed Technopolis provides offices and co-working spaces for some 1,600 companies in 17 campuses in six countries in the Nordic and Baltic regions.

Kildare Partners plans to continue to invest in the Nordic region, Finnan says. "We buy real estate across all sectors and will continue to look for new targets in Finland, Norway, Sweden and Denmark," Finnan says.

All main cities in the Nordic region have potential for real estate investments, but real estate prices vary quite a bit, Finnan adds. "Stockholm is currently probably the most expensive of the Nordic cities, as it has already had most interest from foreign capital," he says, adding:

"Finnish cities are trading at a wider yield than other cities, which makes them more attractive. At the right price, however, we would find all the Nordic capitals attractive."

Kildare decided to acquire Technopolis primarily because of its business concept, which includes a strong service element and pan-Nordic approach, Finnan says. "It was the company and its concept, which was very interesting to us, not just that it is in the Finnish office market. The company also operates in all Nordic countries," Finnan concludes.

Since its foundation in 2013, Kildare Partners has acquired some EUR 6bn of real estate assets across Europe and raised over EUR 3.5bn of commitments from institutional investors.

Foreign appetite for Finnish real estate grows steadily

M&G Real Estate eyes new investment targets in the Nordics

Nordic institutional investors are now net sellers in local RE markets

Commerz Real is on the lookout for more Finnish real estate

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