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"ING Real Estate has today announced the acquisition of the Merikortelli building in the Helsinki city centre for EUR 70.5 million. The mixed-use prime property offering both office and retail space was acquired on behalf ING Real Estate Nordic Property Fund and has taken the Fund's total assets under management (AUM) to EUR 1 billion. The semi-open ended fund was launched in October 2006 for institutional investors with aim to be the most well diversified fund in the Nordics targeting total AUM of EUR 2.5billion.
The Merikortelli building has a lettable area of 24,409 m2, of which retail space covering 1,300m2 was sold by a syndicate comprising Merrill Lynch, O'Connor Capital Partners and Genesta Property Nordic. The building provides office accommodation to media companies and the creative services industry as well as the Finnish National Film Archive. The overall occupancy rate is 87%. Currently around 3,422 m2 of office space is vacant because it is undergoing refurbishment". (CS della Società)
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