- Advertisement -
- Advertisement -

HCP Relocates to Recently Acquired Property

- Advertisement -

Stockholm (HedgeNordic) – After 15 years stationed at the Helsinki Cable Factory, Finnish asset manager Helsinki Capital Partners (HCP) is relocating its office to the former laboratory of the University of Technology. This historical redbrick property in the heart of Helsinki’s city center was just acquired by HCP’s Bricks fund, an open-ended alternative investment fund launched in cooperation with real estate advisory firm Cobbleyard Real Estate.

HCP Bricks, born out of the HCP-Cobbleyard partnership, aims to meet investors’ interest in commercial real estate across the largest cities in Finland and in Stockholm. With the acquisition of the redbrick property at Eerikinkatu 32-36, originally built in 1933 for the University of Technology, HCP Bricks adds a second asset to its portfolio. The building spans approximately 7,000 square meters across five floors and is set for transformation into a dynamic loft office space. “This valuable red brick building dates from 1933 and was originally a laboratory of the University of Technology,” says Mattias Lindfors. “Now this historic building is being transformed into a modern and creative working environment.”

Despite acquiring the property vacant, tenant interest has exceeded expectations, with a pre-letting rate of nearly 50 percent, according to Lindfors. Tenants are expected to occupy the premises during 2024. Helsinki Capital Partners has moved to the property at Eerikinkatu 32-36 as of today. Substantial renovations and energy investments are slated for the upcoming year, with the distinctive laboratory halls being converted into contemporary loft-style offices boasting ceilings reaching up to six meters. Enhancing the property’s appeal is a central tower within the building, along with a rooftop terrace and a sauna that offers a panoramic view of the entire Helsinki city center.

The current environment of higher interest rates has proven beneficial for real estate buyers. Lindfors notes, “Acquisitions have been executed in the context of higher interest rates, resulting in noticeable reductions in purchase prices.” Despite the challenges in the real estate market, Lindfors expresses confidence in the future, stating, “We believe we can already see the light at the end of the tunnel. The decrease in inflation is expected to lead to lower interest rates, fostering increased transactions and improved financing conditions in the real estate market.”

Subscribe to HedgeBrev, HedgeNordic’s weekly newsletter, and never miss the latest news!

Our newsletter is sent once a week, every Friday.

Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

Latest Articles

Leveraging Opportunities in Credit Markets

Stockholm (HedgeNordic) – After several years of successful bond investing through a private investment company, Nicolai Wenckheim launched an alternative investment fund in March...

ATP’s Response to Changing Equity-Bond Correlations

Stockholm (HedgeNordic) – In 2022, the usual negative correlation between equities and bonds, essential for the construction of diversified portfolios, disappeared. This rare anomaly,...

Evolution in Hedge Fund Investing with LGT Collaboration

Stockholm (HedgeNordic) – Since Peter Ragnarsson assumed the role of Head of Alternatives at PRI Pensionsgaranti in 2015, the Swedish pension insurer has significantly...

Borea Expands Sustainability Focus with New Hire

Stockholm (HedgeNordic) – Norwegian fund boutique Borea Asset Management has expanded its management team with the hiring of Iselin Ahmer Solberg as a corporate...

Schroders Strengthens Nordic Client Team

Stockholm (HedgeNordic) – Schroders is expanding its client relationship capabilities in the Nordics with the appointment of Ludvig Löfving as a Client Director. He...

The Lynx Constellation Is Brightening Up

Stockholm (HedgeNordic) – Lynx Asset Management made headlines in late 2019 with the launch of its pure-play machine learning strategy, Constellation, as a standalone...

Allocator Interviews

Latest Articles

Man Institute Insights

Voices

Request for Proposal

- Advertisement -