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KPMG assisted Castellum in acquisition of Finnish Kielo

The deal is the biggest transaction in the Finnish real estate sector since the start of the covid-19 pandemic.

This is the biggest Finnish real estate sector transaction since the start of covid-19.

KPMG assisted Castellum in acquisition of Finnish Kielo, with a property portfolio for approximately EUR640 million

Castellum is acquiring a Finnish property portfolio through purchase of the real estate company Kielo with 22 high-quality office properties in Finland's most attractive growth centres and fastest growing university towns. The deal is the biggest transaction in the Finnish real estate sector since the start of the covid-19 pandemic and, for comparison, it represents 10% of the total transaction volume of last year. 

The portfolio

The portfolio consists of 22 modern and sustainable properties, most of which were built after 2000, featuring flexible office space and a wide range of services and facilities, such as conference venues and coworking areas.

The portfolio has a stable, attractive and diversified tenant composition. Of the current 314 individual tenants, the public sector, blue-chip and/or large companies account for 63% of gross rental income.

The largest tenants are public institutions and well-known blue-chip companies such as AFRY, Nokia and Siemens. The largest region is the Helsinki Metropolitan Area (HMA), which accounts for more than 40% of rental income, while the remainder is distributed between the university towns of Tampere, Turku, Jyväskylä and Lahti.

How KPMG assisted the client?

KPMG assisted Castellum in financial and tax due diligence, as well as in SPA negotiations and W&I insurance process.