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JLL has acted as the sole commercial real estate adviser for Polar Bidco S.à.r.l., an entity owned by funds advised by Blackstone real estate, in completing a voluntary tender offer for Sponda Plc, the Nasdaq Helsinki listed prime real estate investment company in Finland. In addition, Nordic investor Areim is a co-investor alongside Blackstone. Once completed, the deal would be the largest real estate transaction and one of the largest corporate transactions ever in Finland.
Christian Hohenthal, Head of Capital Markets JLL Finland, said, "As Blackstone's commercial real estate adviser in this landmark acquisition, we've worked alongside our client to support their investment strategy in Finland throughout the transaction.
"Our client has a strong focus on accessing high quality real estate globally and in the Nordic region. Sponda is the leading listed vehicle in Finland concentrating on high-quality commercial properties in growth areas, in particular the Helsinki Central Business District and inner city. In these areas, investors currently have the opportunity to benefit from excellent real estate market fundamentals. In Finland, strong indicators today include GDP growth, the highest level of consumer confidence ever measured in the country, and in Helsinki, one of the fastest growing populations in Western Europe."
James Seppala, Head of European Real Estate Acquisitions at Blackstone, said, "Our acquisition represents another step in Blackstone's long-standing strategy of investing in high-quality real estate assets and businesses across the Nordic region. JLL's commercial real estate insights combined with its understanding of our investment objectives and deep on- the-ground experience in Finland were instrumental in helping us to acquire Sponda."
Jeremy Eddy, International Director at JLL, added, "We are delighted to support Blackstone in this key strategic transaction. Our local teams' in-depth market knowledge coupled with our European capability come together to help investors identify the real value that they can access in diversified assets across strong cities in the Nordics and the European region."
Head of Capital Markets Finland, JLL
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