eQ FINNISH REAL ESTATE SELLS SEVEN PROPERTIES FOR 100 MILLION EUROS

PRESS RELEASE
10 December 2020, 2:45 pm

Special Investment Fund eQ Finnish Real Estate (AIF) announces the sale of seven properties in Helsinki, Tampere, Turku and Seinäjoki regions to Cibus Nordic Real Estate AB with a closing aimed for December 2020.

eQ Finnish Real Estate was launched in 2014. The fund has grown rapidly, becoming a major retail and office property owner in Finland with real estate assets under management at approximately 1.1 billion euros at the end of September 2020. The fund has a concentrated real estate portfolio with a majority of properties located in Helsinki and Tampere. The announced transaction is the first major real estate portfolio sale from the fund.

”This transaction will shape eQ Finnish Real Estate Fund’s portfolio towards our target allocation according to our plans. The transaction strengthens our presence as a major owner and developer of central retail and office assets and brings improved operational efficiency. Upon the closing of the transaction the share of properties located in the Helsinki Metropolitan area increases to 74%. The transaction demonstrates that the level of activity in the real estate markets is high and the market is functioning well. The transaction will have a positive impact on the fund returns”, concludes Tero Estovirta, Head of Real Estate at eQ Asset Management Ltd.

Special Investment Fund eQ Finnish Real Estate invests in Finnish commercial properties. The Fund is open for subscriptions four times a year and for redemptions twice a year. Since inception, the average annualised return of Fund has been 8.5 % p.a. (net of fees).

Helsinki 10 December 2020

eQ Asset Management Ltd.

Further information:

Tero Estovirta, Head of Real Estate Investments, eQ Asset Management Ltd, +358 50 593 6194 / tero.estovirta@eQ.fi

eQ Group is a Finnish group of companies specialising in asset management and corporate finance business. eQ Asset Management offers a wide range of asset management services (including private equity funds and real estate asset management) for institutions and individuals. The assets managed by the Group total approximately EUR 8.7 billion. Advium Corporate Finance, which is part of the Group, offers services related to mergers and acquisitions, real estate transactions and equity capital markets.

More information about the Group is available on our website at www.eQ.fi.