Trevian Asset Management and AXA IM – Real Assets to undertake major office to residential conversion in Helsinki, Finland
Trevian Asset Management Oy, a leading Helsinki based investment and asset management company, is advising AXA IM – Real Assets, acting on behalf of one of its managed funds, on a high profile development to convert over 7,500 sqm of central Helsinki office space into apartments.
Previously the headquarters of the Finnish trading company Kesko, located in the Katajanokka area in Helsinki, the property has been acquired by an AXA IM – Real Assets managed fund, focused on value-added strategies in Europe’s primary investment market, from Varma Mutual Pension Insurance Company. Trevian will undertake an extensive renovation programme, converting the property into high-end apartments, with completion expected in early 2019. In addition, the existing street-level retail premises will be converted into a single-unit, almost 700 sqm grocery store.
Trevian acted as a local advisor for AXA IM – Real Assets during the acquisition process and will continue to manage the operations through to completion. Trevian has negotiated a construction contract with local contractor Lehto Group Oyj and will be responsible for delivery of the project including the sale of the residential units. Construction work will commence in October 2017.
“We are delighted to be continuing to manage this project locally on behalf of AXA IM – Real Assets, a leading European fund manager. Trevian is determined to be the preferred local partner for major global investors in the Nordics, and this conversion project is a powerful and successful indication of the realization of this goal,” says Trevian’s CIO Stefan Söderholm.
Trevian Asset Management Oy is a Finnish investment and asset management company specializing in commercial properties. The company was established in 2012 and is owned by its key personnel. The company produces actively managed real estate equity funds and asset management services optimized for its customers. The services are focused especially for institutional real estate investors, banks and other professional investors. Trevian’s assets under management exceed 1.0B€.