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Largest ever logistics portfolio transaction in Finland

JLL advised Posti Group Corporation in a major sale & leaseback arrangement


The Posti Group Corporation has sold a 130,000 square metre (sq.m.) logistics real estate portfolio through a sale and leaseback to Norwegian investment manager Ness, Risan & Partners (NRP). JLL acted as the seller's advisor in the transaction. The portfolio comprises three postal centres, one warehouse and one freight terminal. The real estate portfolio sold for a price of approximately €120 million.

Marko Tulokas, Managing Director, Posti Kiinteistöt Oy, said: "We are very pleased with the excellent outcome of this landmark transaction. JLL executed the transaction in a highly professional manner and under a tight process timeline. We are very pleased to have worked in cooperation with JLL, who offered us a client-oriented solution, drawing on the expertise of the local team and leveraging their wide international network. JLL advised us in all aspects of the process, resulting in a perfect solution for Posti Group and a new strategic partnership with NRP."

Jukka Torvinen, JLL Capital Markets Finland, said: "It has been a privilege to work with Posti Group to facilitate the largest ever logistics sale and leaseback portfolio transaction in Finland. The superb covenant combined with the high quality assets attracted very strong international and Nordic interest. Prime logistics properties are a highly attractive asset class that is sure to generate strong investor demand also going forwards."

Posti Kiinteistöt Ltd is responsible for Posti Group's real estate portfolio. It is a wholly owned subsidiary of Posti Group Corporation and the centralized location of all of the Group's Finnish real estate ownership and management. Posti Kiinteistöt Ltd is responsible for a real estate entity of approximately 1,000,000 sq.m. including Posti sorting centres, delivery points, warehouses, other production plants, as well as office premises and Posti shops. There are a total of 700 locations throughout Finland.

Ness, Risan & Partners is an independent and privately owned investment services company focusing on real estate, shipping and offshore industries. The NRP Group has completed transactions worth more than €7 billion and it is one of the most significant players in the Nordic logistics and warehouse real estate market. The company was established in 2000 and has approximately 50 employees. Wilfast Förvaltning, which will act as NRP's property manager, is a Swedish, independent privately owned property Management Company.

Ownership of the properties was transferred to NRP on April 22, 2015, with the exception of the freight terminal, the ownership of which will be transferred when the property is fully completed in late 2016. Posti will continue its business operations in all of the properties under long-term leases.