M7 signs two leases for c. 1,420 sq m in Finland

M7 Real Estate (“M7”), the pan-European real estate investor and asset manager has, on behalf of M7 European Real Estate Investment Partners IV fund (“M7 EREIP IV”), signed two leases for circa 1,420 sq m in Finland.

The first is 1,200 sq m of warehouse space let to Posti Kiinteistöt Oy (“Posti Kiinteistöt”) at Hevoshaankatu 3, Pori. Posti Kiinteistöt is an existing tenant and this new space provides an extension to their current premises. Posti Kiinteistöt is a fully owned subsidiary of Posti Group Corporation which is owned by the government of Finland. The circa 6,500 sq m asset is now 86% occupied.

The second lease is for circa 216 sq m of retail space let to Lumon Oy (“Lumon”) at Laippatie 1, Helsinki. The unit was renovated by M7 as part of the deal agreed with the tenant. The asset totals nearly 7,000 sq m and is now fully occupied. Lumon Group is a company designing, manufacturing and installing functional, stylish and safe balcony glazings, terrace glass walls, blinds and balcony facades in Finland, Scandinavia, Europe and, increasingly, elsewhere around the world.

Iiku Törmälä, Asset Manager at M7 Finland commented: “We are pleased to complete these lettings. They demonstrate the increased activity we have seen in the leasing market in Finland since the beginning of the year. We have a number of ongoing negotiations, with both existing tenants and potential new tenants, relating to other assets in our portfolio which should be completing in the near term.”