Deka Immobilien has successfully sold the Kalasatama Health Complex in Helsinki for around EUR 100 million from the portfolio of the institutional fund WestInvest ImmoValue to the Finnish investor VVT Property Fund II KY – under particularly attractive conditions compared to the current market environment in Helsinki. VVT specializes in commercial real estate in Finland’s major cities and is strategically expanding its national portfolio with this acquisition.
Deka Immobilien had already acquired the property in 2015 as a project development at an early stage. The building was completed in 2017 and began operations in early 2018.
The property is located in the Finnish capital Helsinki, around three kilometers east of the central business district, directly on the waterfront at the site of the former Sörnäinen fishing harbor. The area is undergoing a transformation from a traditional harbor into the modern urban district of Kalasatama. The six-story building offers 19,800 square meters of rental space and 35 parking spaces. It houses medical infrastructure with operating rooms, a central reception area and gastronomy. The property is fully and long-term let, with the City of Helsinki serving as the main tenant.
A standout design feature is the artwork “Mobile E & W” by artist Jenni Rope, installed across two lobbies and considered the largest mobile sculpture in Finland.
The location offers excellent transport connections: A metro station is within walking distance, with direct access to the expressway. Helsinki Airport can be reached in about 20 minutes and the main train station in approximately five minutes. A major shopping center is located right next door.
With this sale, Deka Immobilien divested a position from the fund portfolio that no longer aligned with the current investment strategy. Over a holding period of around ten years, the property made a positive contribution to the fund’s performance.
