Catella acted as financial advisor in the sale of a Helsinki CBD office property, acquired by Alma Property Partners and Cobbleyard Real Estate for EUR 16 million, with plans for significant refurbishment to enhance the asset's office use.

Information on the Target

Catella has successfully acted as the financial advisor for Senate Properties in the sale of an office property located at Eteläesplanadi 10 in Helsinki's central business district (CBD). The property, which was initially constructed in 1910, has a rich history as a hotel, restaurant, and theatre. Most recently, it served as the office for the Ministry of Justice.

The joint venture established by Alma Property Partners and Cobbleyard Real Estate has acquired the property for EUR 16 million. Following the acquisition, a significant refurbishment project is planned, with the intention of maintaining the property’s primary use as office space.

Industry Overview in Finland

The property market in Finland, particularly within Helsinki, has shown robust resilience and growth in recent years. With the Finnish economy rebounding from prior challenges, there has been an incr