Castellum Buys Finnish Real-Estate Company From Blackstone and Brunswick for $763 Million

By Dominic Chopping

STOCKHOLM--Swedish real-estate company Castellum AB said Saturday that it is buying a Finnish property portfolio through the acquisition of Kielo from Blackstone Tactical Opportunities and Brunswick Real Estate for 6.5 billion kronor ($763 million).

Kielo's portfolio consists of 22 office properties spread across the Helsinki metropolitan area and university towns of Tampere, Turku, Jyvaskyla and Lahti.

Of the current 314 individual tenants, the public sector, blue-chip and/or large companies account for 63% of gross rental income and the largest tenants are public institutions and blue-chip companies such as AFRY AB, Nokia Corp. and Siemens AG, it said.

Write to Dominic Chopping at [e-mail]

(END) Dow Jones Newswires

07-05-21 0213ET