Keva and Aktiivitilat have established a new real estate investment company focusing on light industrial properties in Finland. The targeted investment volume is approximately EUR 200 million.
The new company, named Suomen Hallikiinteistöt Ky, will invest broadly in light industrial and warehouse properties in the Helsinki metropolitan area, with potential future expansion to Tampere and Turku regions.
Aktiivitilat sold their first investment company, Aktiivihallit Ky, to an international investor last July. The second, Aktiivihallit II Ky, focuses on developing its existing properties. The new company will be third venture of Aktiivitilat into this real estate segment.
"Experiences in the light industrial property market have been very positive," states Jukka Torvinen, CEO of Aktiivitilat. "Occupancy rates have remained high, and we are still able to find attractive investment opportunities."
"Energy renovations, repair needs, and short lease terms highlight the need for a specialized company like ours. When combined with Keva's investment expertise, the joint venture is on a strong foundation," explains Torvinen. "Finnish capital, an agile purchasing process, straightforward contracts, and strong industry expertise will be our strengths."
"Keva has previously invested successfully in logistics properties. Aktiivitilat provide expertise in this higher-yield but labour-intensive segment of light industrial and warehouse facilities enables us to expand our investment horizon," says Carl-Henrik Roselius, Keva's Director of Real Estate Investments.
Tapani Piri, a partner at Aktiivitilat, sees industrial properties as a continuously evolving part of the investment market. "In recent years, industrial properties have become attractive investment targets, but this development is still in its early stages. Individual properties are risky and small, but as a portfolio, industrial properties generate strong cash flow and predictability. This is evident in both investor demand and the financing opportunities for industrial property portfolios."
The first investments of the new company are currently under review, and additional investment opportunities are being sought.