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Partners Group / Key word(s): Real Estate
Baar-Zug, Switzerland; 13 July 2022
Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire an off-market portfolio of last mile logistics properties in Finland (the "Portfolio), from Mandatum Asset Management, the asset management arm of Finnish insurance company Sampo Group.
The Portfolio consists of 19 assets, including 13 in Helsinki, five in Tampere, and one in Oulu, and has a Net Leasable Area of c. 140,000 sqm. The assets are 96% occupied by over 80 tenants from a diversified range of industries with 100% annual inflation adjustment leases. The assets are strategically located in close proximity to urban areas and are therefore ideally suited for a wide range of occupiers. A limited supply of last mile logistics space combined with strong demand due to rising e-commerce sales volumes is underpinning rental growth in these locations. In addition, conversion of urban industrial premises to residential in recent years has reduced existing stock whilst a strict urban land use policy is restricting new urban developments, pushing down vacancy rates and increasing rents.
Partners Group, alongside its local operating partner Trevian, will execute the value creation plan and seek to scale the Portfolio into a leading platform in Finland. Key value creation initiatives will include re-leasing assets at market rents, executing extensions to fulfil tenant expansion needs, as well as targeted capex initiatives to upgrade facilities with a strong focus on ESG-enhancement.
Anne-Jan Jager, Managing Director, Private Real Estate Europe, Partners Group, says: "This Portfolio is another example of our thematic investing approach in action. We have been actively targeting the logistics sector across Europe and investing in select opportunities in strategic growing locations. The way we work, live and consume is fundamentally changing and is increasing the demand of logistics occupiers in Finland, an export market relying on logistics to support its key economic industries.
Partners Group's Private Real Estate business has USD 18 billion in assets under management globally. The firm deployed c. USD 4 billion of equity across private real estate in 2021, of which approximately 40% was in the logistics sector.
Kirkland & Ellis, Borenius Attorneys, and PwC advised Partners Group.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 170 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 127 billion in assets under management as of 31 December 2021, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
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