Keva and Aktiivitilat have set up a new real-estate investment vehicle that will focus on light-industrial assets. The target investment volume is about €200 million.
The new company, Suomen Hallikiinteistöt Ky, will acquire warehouse and production facilities across the Helsinki Metropolitan area and may later expand to Tampere and Turku.
Aktiivitilat’s first light-industrial fund, Aktiivihallit Ky, was sold to an international investor last summer, and the second, Aktiivihallit II Ky, now concentrates on developing the properties it already owns. The new partnership is therefore Aktiivitilat’s third venture in this asset class.
“Market experience with light-industrial properties has been very positive,” says Aktiivitilat CEO Jukka Torvinen. “Occupancy rates remain high and we are still finding attractive opportunities.”
“Energy renovations, maintenance requirements and short lease terms all highlight the need for a specialist like us. Combine that with Keva’s investment expertise and we are building on a solid foundation”, says Torvinen. “Finnish capital, an agile acquisition process, straightforward transaction documentation, and deep industry expertise will be our strengths,” Torvinen adds.
“Keva has already invested successfully in logistics assets. Aktiivitilat’s know-how in this higher-yield, but operationally intensive, warehouse and production segment allows us to extend our investment horizon,” notes Keva’s Real-Estate Investment Director Carl-Henrik Roselius.
Aktiivitilat partner Tapani Piri sees the light-industrial field still as a developing part of the investment market. “In recent years these assets have become attractive targets, but the evolution is still in its early stages. Single properties are small and carry higher risk, yet a portfolio of flex-base properties delivers strong cash flow and predictability. That is evident both in investor demand and in the availability of financing.”
The new company already has its first potential acquisitions under review and continues to search for additional opportunities.
Further information:
Aktiivitilat
Jukka Torvinen, tel. +358 40 827 7832, jukka.torvinen@aktiivitilat.fi
Tapani Piri, tel. +358 40 752 5417, tapani.piri@aktiivitilat.fi
Keva
Carl-Henrik Roselius, tel. +358 500 417 997, Carl-Henrik.Roselius@keva.fi
Aktiivitilat is a real-estate investment company specialising in warehouse and production facilities. It acquires light-industrial properties, develops new premises and provides space solutions for companies through active asset management. More information: www.aktiivitilat.fi
Keva is Finland’s largest public-sector pension provider, responsible for the pensions of municipal, wellbeing-services county, state, Evangelical-Lutheran Church, Kela and Bank of Finland employees. Keva manages the financing of these pensions and invests the pension assets. The market value of Keva’s investment portfolio is about €70 billion.
