Edita Group Oyj has divested its property in Kuninkaantammi, Helsinki to EAB Value Added Fund III Ky, a real estate development fund managed by Evli. The property currently houses both the production facility of Edita Prima, which is a business area of Edita Group, as well as other tenants outside the group. The selling of the property will not affect Edita Prima’s operations, personnel, nor other tenants of the property. All operations will continue as before.
Owning real estates is not Edita Group’s core business, which is why the group has decided to renounce ownership of the Kuninkaantammi property completely. With the divestment of the property, Edita Group also aims at improving its capital efficiency. Utilization of the Kuninkaantammi facilities has already been optimized through renting parts of the property to outside parties.
“We develop Edita Group’s strategy systematically, seeking to strongly support the operations of our business areas. Real estate ownership does not support this goal. Therefore, it is rational to transfer the ownership of the Kuninkaantammi property to a company whose core business is real estate development,” says Kristiina Kujala, Interim CEO, CFO of Edita Group.
“The investment strategy of EAB Value Added Fund III, Evli’s real estate development fund, inheres owning warehouses and small-scale industrial properties in the Helsinki metropolitan area. We are delighted to acquire this large property in Kuninkaantammi that already has several steady tenants. The objective of the fund is to further develop the property,” says Jaakko Ristola, Director of Real Estate Funds at Evli.
The Kuninkaantammi property was completed in 1975. It served as the head office of the Edita Group until 2017, when the head office moved to its current location in Kalasatama, Helsinki. Only Edita Prima’s production plant remained in Kuninkaantammi. The leasable area of the building is approximately 20,000 m2 and the size of the plot is 5.4 hectares.
For further information, please contact:
Interim CEO, CFO
Edita Group Oyj
+358 40 0761 752