Exilion divests landmark headquarter property to Deutsche

Aleksandra advised Exilion on its disposal of a landmark headquarter property, known as the former headquarters of Nokia Corporation, comprising of two office buildings and a parking facility located in Keilaniemi, Espoo, to a fund managed by Deutsche Asset & Wealth Management. The office buildings have a lettable area of approximately 31,000 square metres and the parking house has approximately 1,250 parking spaces. The total underlying property value for the transaction was approximately EUR 164 million, corresponding to a net initial yield of approximately 4.65 per cent.

The property now sold is a part of the entity Exilion acquired from Nokia Corporation in 2012. One of the office buildings in the entity was sold by Exilion in 2014 to a fund managed by AXA Real Estate. In addition to the property now sold, partners at Aleksandra Attorneys also advised Exilion in both the initial acquisition from Nokia Corporation in 2012 and the office building sold to AXA in 2014.