Breakthrough transaction for Cavendo in Helsinki – Advisor to AMF in property deal worth EUR 400 million

The newly started company Cavendo has been appointed advisor to AMF in conjunction with its establishment in the Helsinki office market in collaboration with the Finnish pension company Ilmarinen.  AMF is to acquire 50% ownership of a property portfolio in Helsinki. The portfolio comprises 15 office properties with a total property value corresponding to over EUR 400 million.

The Finnish pension company Ilmarinen is the seller of the properties and will, in parallel, become a 50% owner of the jointly owned company with AMF. Cavendo has served as the commercial advisor to AMF in the acquisition and will now deliver a management platform to AMF and Ilmarinen’s joint company. 

“It is a major breakthrough for us to be entrusted with assisting two such well recognized institutional investors in a cross-border joint venture,” says Joakim Karlsson, Managing Director of Cavendo.

The property portfolio encompasses a total of 250,000 square meters of lettable space. In cooperation with the Finnish consultancy firm Mrec, Cavendo will now assist AMF and Ilmarinen in their efforts to build up a long-term and local organization tasked with managing and further developing the properties. The objective is also to gradually expand the property portfolio.

Cavendo was founded in autumn 2014 by Joakim Karlsson, Martin Lindblad and Urban Ehrling. They have a common background from Niam, one of Northern Europe’s leading private equity real estate firm.

“We have been monitoring the Finnish market for many years and have been involved in a number of interesting transactions in Helsinki. For some time now, we have been expecting to see growing interest from Swedish and other international investors, given our long-term confidence in the Helsinki property market” says Joakim Karlsson.

Cavendo offers advisory services and strategic management services for institutions and other owners of commercial properties. The company has operations in Stockholm and Helsinki.

For further information, contact:
Joakim Karlsson, MD Cavendo, tel +46 736 99 13 70