News and Press Releases

Catella acted as the exclusive financial advisor of Paavo Nurmi Foundation in the sale of two residential properties located in the districts of Töölö and Kallio in the inner city of Helsinki to Elo Mutual Pension Insurance Company.

The intense inflation that started in 2022, coupled with fast rise of interest rates, ultimately caused real estate transaction volume to collapse. We entered year 2023 with a very quiet market after the rapid increase in yields, and despite high hopes, the market did not show signs of recovery at any point. Last year’s transaction volume resulted in ca. EUR 2.5 billion, closely resembling the levels seen in the record weak years after the financial crisis.

The property is located at Lönnrotinkatu 20, and was built in 1972. The total lettable area is approximately 5,800 sqm. The ground floor is fully rented to Lidl, while the four upper floors are vacant. Catella Real Estate AG (CREAG) acquired the property in 2011 for the Special Fund Catella Scandia Chances. Due to several trends affecting the office market, the property was sold as a development project. Slättö, on behalf of the Slättö Value Add II fund, plans to convert the property for hotel use.

Jermu Kujanpää joins Catella Asset Management Finland (CAM) from Catella Property on January 29th, 2024.

Catella acted as the exclusive financial advisor of Ålandsbanken Asuntorahasto Erikoissijoitusrahasto in the sale of two new-built residential properties located in Espoo to CapMan Residential Fund in 2023.